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Rupee sheds 6 paise against dollar

Written By Unknown on Tuesday, January 22, 2013 | 1/22/2013

Rupee sheds 6 paise against dollar 


SNAPPING the two-day gaining string, the Indian Rupee on Monday lost 6 paise to end at 53.77 against the US Dollar, due to fresh demand for the US currency from importers despite firm local equities and persistent capital inflows.
Forex dealers said slight weakness in Dollar overseas capped the Rupee's losses to some extern.
The local unit opened a lad lower at 53.72 against the Dollar from its Friday's close of 53.71 at the interbank foreign exchange (forex) market. However, it recovered 10 a high of 53.63 on ihe back of a rally in local stocks and initial Dollar selling by exporters, before falling to a low of 53.96 on Dollar demand from importers, mainly oil refiners.
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