Rupee Down By 18 Paise At 52.20/21 Against Dollar

The rupee today declined by 18 paise to close at 52.20/21 against the US dollar on sustained demand from importers for the US currency amid signs of continued capital outflows.

A late recovery in local stocks and minor fall in dollar against its major rival currencies in the overseas market capped the rupee’s fall, forex dealers said. At the Interbank Foreign Exchange (Forex) market, the domestic currency at 52.03/04 and dropped further to a low of 52.43 following weakness in equities.

From: http://ping.fm/fpUHL