Rupee sheds 23 paise against dollar

MUMBAI – The rupee declined by 23 paise to 53.10 against the dollar in early trade today at the Interbank Foreign Exchange market on increased demand for the American currency from importers.

Forex dealer said increased demand for the American currency from oil importers and dollar’s gains against other currencies overseas mainly put pressure on the local unit.

A higher opening in the equity market, however, capped rupee’s losses, they added. 

Agencies

 

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