India's central bank is believed to have intervened in the foreign-exchange market on Wednesday to support the dollar against the rupee, Dow Jones Newswires reported, quoting traders.

The reported mo

The Indian rupee dropped further by 23 paise to Rs 44.70 per US dollar in early trade today on persistent demand for the American currency from banks and importers in view of dollar firmness in global markets amid weak domestic equities despite inflows from foreign funds.

The Indian rupee dropped by 7 paise to 44.83 against the US dollar in early trade on Tuesday on fresh demand for the American currency from banks and importers on the back of a rise in dollar value in overseas market.

The Indian rupee moved up further by 8 paise to 44.73 against the American currency in early trade on persistent selling of dollars by banks and exporters on the back of weak dollar in overseas.

The United States on Friday called on China to speed up progress in making its currency more flexible, but refrained from branding Beijing a currency manipulator, a move that could trigger sanctions.

The Indian rupee gained another 12 paise to Rs 45.18 per US dollar in early trade on Friday on sustained selling of dollars by banks and exporters amid dollar weakness overseas and firm domestic equity markets.

The dollar recovered slightly against the euro late Friday but not before it hit a 16-month low and sent gold soaring to a new record just shy of $1,570 an ounce.

The euro traded to $1.4878 at midday

The era of a world currency system dominated by the US dollar is a "product of the past", Chinese President Hu Jintao said in interviews with US newspapers on the eve of a visit to Washington.

Hu is

Mumbai: The Indian rupee gained 7 paise to Rs 45.17 against the US dollar in early trade at the Interbank Foreign Exchange today, led by a higher opening in the stock market and weakness of the Americ