Indian rupee at 9-month low, above 56/USD

www.mangaloretoday.com

Mumbai, May 29, 2013: The rupee on Wednesday fell by 22 paise to trade at fresh nine-month low of 56.18 against the US dollar in early trade on the Interbank Foreign Exchange due to month-end demand for the US currency from importers and banks. Appreciation of the American currency against major currencies overseas on robust economic data and a weak opening in the domestic equity market also put pressure on the rupee, dealers said.

The rupee had slumped by 39 paise to end at nearly nine-month low of 55.96 a dollar in Tuesday’s trade.

Meanwhile, the BSE benchmark Sensex was down by 77.03 points, or 0.38 per cent, at 20,083.79 in early trade on Wednesday.