Rupee at 5-month low, down 47 paise against dollar in early trade

May 16, 2012 |

mumbai

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The rupee on Wednesday fell five-month low by losing 47 paise to 54.26 against the US dollar on the Interbank Foreign Exchange market in early trade on increased capital outflows amid strong demand for the American currency.

The rupee had touched a record intra-day low of 54.32 on December 15, 2011. Forex dealers said apart from the dollar's gains against the euro and other currencies overseas on renewed eurozone worries, a weak opening in the equity market and increased demand for the American currency from importers mainly put pressure on the rupee.

Meanwhile, the BSE benchmark Sensex was down by 252.07 points, or 1.54 per cent, at 16,076.18 in early trade.

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