Indian rupee down 14 paise against US dollar- Business News

Indian rupee down 14 paise against US dollar

BT Online Bureau   Mumbai     Last Updated: April 3, 2013  | 10:50 IST

The Indian rupee on Wednesday lost 14 paise to 54.40 against the US dollar on the Interbank Foreign Exchange due to strengthening of the US currency overseas.

The rupee had gained three paise to close at 54.26 on Tuesday, in line with strong local equities amid some dollar selling by exporters.

Dealers attributed the domestic currency's fall on Wednesday to dollar gains against the euro and yen overseas boosted by solid US economic data and a bleak outlook for the troubled Eurozone.

Besides, a lower opening in the stock market also put pressure on the rupee, they said.

The BSE Sensex fell 66.26 points, or 0.34 per cent, to 18,974.69 in early trade on Wednesday.

with inputs from PTI

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