Rupee falls against US dollar on importers' demand

The Indian rupee falls against US dollar on Tuesday due to persistent demand for the American currency from banks and importers on the back of a higher dollar in overseas markets and weak domestic equity markets. Rupee future for December 2011 contract falls as much as 0.64 paise to Rs. 53.5775 per dollar on the National Stock Exchange (NSE) at 11.53am.

At the Chicago Mercantile Exchange (CME), EURUSD future for December 2011 contract traded at US$1.3192 per euro (USD depreciated by 0.04 per cent against EUR) and GBPUSD future for December 2011 contract traded at US$1.5605 per pound (USD depreciated by 0.16 per cent against GBP) at 12.00 PM today.

S&P CNX NIFTY, at NSE, was trading at 4,761.70, down by 0.06 per cent, after opening at 4,733.60 against the previous closing of 4,764.60. It touched the intra-day low of 4,728.50 till the trading. (At 11.49 AM today).

At NSE, USDINR for December 2011 contract traded at Rs. 53.5775 per dollar, rupee depreciated by 0.64 paise, after opening at Rs. 53.1125 against the previous closing price of Rs. 52.9375. It fell to Rs. 53.1125 per dollar with a business volume of 852511 lots till the trading. (At 11.53 AM today).

Read more about: dollar, currency, importers
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