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Rupee falls 19 paise against US dollar

Prime News, National and International, Business, Mumbai, March 20:- The rupee fell 19 paise to Rs 69.15 against the US dollar in early trade Wednesday after crude price rose to a four-month high in global market amid increased demand for the American currency from importers.

At the interbank forex market, the rupee opened lower at Rs 69.11 and weakened further to Rs 69.17 on increased demand from importers. However, it recovered partially to quote 15 paise down at Rs 69.15 against the dollar.

Forex dealers said crude price surge to a four-month high of USD 67.47 per barrel overseas weighed on the Indian unit, but weakness in the dollar against a basket of currencies limited the fall.

Halting its six-day winning run, the Indian rupee Tuesday edged lower by 43 paise to close at Rs 68.96 against the US dollar on emergence of demand for the greenback from importers.

Meanwhile, foreign institutional investors (FIIs) bought shares worth Rs 2,132.36 crore on a net basis Tuesday, provisional data showed.

The benchmark BSE Sensex gained 28.74 points, or 0.07 per cent, to 38,392.21 in early deals. (Inputs: Agencies, NGB)

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