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DateLine Friday, 26 December 2008

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Indian Rupee falls against dollar

Continuing its weakness for the third straight day, the Indian rupee today depreciated by another 30 paise against the greenback in early trade on heavy dollar demand from importers and state-run banks amides weakening Asian currencies and stock markets.

At the Interbank Foreign Exchange (Forex) market, the domestic currency traded at 48.33 against the US currency, a fall of 30 paise over the previous close of 48.02/48.03 a dollar.

Dealers said dollar firmness against the basket of Asian currencies and increased demand for the greenback and bearish Asian markets mainly put pressure on the Indian rupee. PTI

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