Increased demand for the US currency from oil importers led the Indian rupee weaken by 10 paise to trade at 62.41 against the dollar in early trade on Tuesday at the Interbank Foreign Exchange market.
Forex dealers said besides dollar's gains against euro and yen overseas after better-than-expected manufacturing figures, increased demand from oil importers for the American currency and a lower opening in the stock market also put pressure on the rupee.
They said, however, fall in current account deficit which narrowed sharply to $5.2 billion, or 1.2 per cent of GDP in the July-September quarter of 2013-14, capped the rupee's losses.
The rupee ended 13 paise higher at 62.31 against the US dollar in the previous session.
Meanwhile, the BSE benchmark Sensex fell by 49.42 points, or 0.24 per cent, to 20,848.59 in early trade on Tuesday.
Forex dealers said besides dollar's gains against euro and yen overseas after better-than-expected manufacturing figures, increased demand from oil importers for the American currency and a lower opening in the stock market also put pressure on the rupee.
They said, however, fall in current account deficit which narrowed sharply to $5.2 billion, or 1.2 per cent of GDP in the July-September quarter of 2013-14, capped the rupee's losses.
The rupee ended 13 paise higher at 62.31 against the US dollar in the previous session.
Meanwhile, the BSE benchmark Sensex fell by 49.42 points, or 0.24 per cent, to 20,848.59 in early trade on Tuesday.
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