Rupee down five paise in early trade

Business

oi-Sunil

By Sunil Fernandes

Published: Monday, August 13, 2012, 9:59 [IST]

The Indian rupee was trading five paise lower in trade today, as weak equities saw the rupee dip marginally. Rising crude also affected sentiments for the rupee, which was trading at 55.32 to the dollar.

Brent crude was marginally lower than $114 a barrel, surging in the last few days. Large scale crude imports by the country tends to put a pressure on the Indian rupee.

Foreign fund flows into the equity markets has virtually dried up, adding to slight downward pressure on the rupee. So far, foreign institutional investors have invested more than $10 billion in equities since the start of the year.

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