Rupee declines 7 paise against dollar in early trade

Rupee declines 7 paise against dollar in early trade

The rupee today depreciated by 7 paise against the dollar in early trade weighed down by the U.S. currency’s gain overseas.

At the Interbank Foreign Exchange market, the domestic unit was quoted 7 paise lower at 46.23 a dollar. The rupee had settled steady at 46.16/17 a dollar in the previous session.

Dealers said firming dollar against other currencies after stronger-than-expected U.S. employment and service sector data put pressure on the rupee but higher opening on the stock market, capped losses.

Meanwhile, the Bombay Stock Exchange benchmark index Sens*x rose by 65.87 points, or 0.36 per cent, to 18,283.31 points in the opening trade.

Source: thehindu.com