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 India rupee tumbles 4 paisa to 63.29 vs dollar

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PostSubject: India rupee tumbles 4 paisa to 63.29 vs dollar   Wed 24 Dec 2014, 1:38 pm

MUMBAI: The rupee fell by four paisa to 63.29 vs the US dollar in early morning on Tuesday at the Interbank Foreign Exchange(IFE) new demand for the American currency from banks and importers.
Forex dealers said besides the dollar’s gains against other Asian currencies, increased demand for the American unit from importers contributed to the rupee’s weakness but a higher opening in domestic equities, capped the fall.
The rupee had gained five paise to close at 63.25 against the dollar in yesterday’s trade on fresh selling of the US currency by exporters amid bullish stocks.
Meanwhile, the benchmark BSE Sensex rose by 49.46 points, or 0.18 per cent, to 27,751.25 in early trade today.
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