Rupee fails against USD, drops 7 paise
The rupee failed to maintain initial gains and slipped 7 paise to 57.08 against the dollar demand for the American currency from banks and importers,The dollar gained strength against other currencies
The rupee resumed stronger at 56.90 per dollar as against yesterday’s closing level of 57.01 at the Interbank Foreign Exchange Market on selling of dollars by banks in view of some following some steps taken by the Reserve Bank.
However, it failed to maintain earlier gains and dropped to 57.08 per dollar at 1045 hrs after moving between 56.90 and 57.10 in the morning session.
Meanwhile, the BSE 30-scrip index, Sensex, moved in a narrow range and was trading eight points or 0.05 per cent down at 1100 hrs.
Mon 25 Jun, 2012,11:41:43 PM