Rupee Depreciates By 4 Paise Against Dollar In Morning Trade

Surge in demand for the US dollar by banks and importers led to decline in rupee by four paise. The rupee has reached to Rs 63.29 against the US dollar in today’s morning trade.

According to dealers, apart from the fact that the US dollar gained against the Asian currencies, renewed demand for the US dollar from importers also played a role in rupee's depreciation. However, an improved in domestic equities checked the downfall.

The Indian currency had appreciated by five paise and closed at Rs 63.25 against the US dollar yesterday.

Meanwhile, the Bombay Stock Exchange (BSE) Sensex went up by 49.46 points (0.18%) in today’s early trade.