Rupee loses ground in early trade; scales past 62 at 62.11

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Rupee loses ground in early trade; scales past 62 at 62.11
The rupee fell past the 62 level in early trade and was last trading with a fall of 13 paise at 62.11 to the dollar.

Dollar demand pushed the rupee lower, along with slight sluggishness across equity markets around the globe.

The rupee had closed at 61.98 against the dollar on Wednesday, while the forex markets were closed on Thursday.

Today's fall in the rupee was despite strong sentiments in the Indian equity market, wherein the Sensex scaled past the 21,000 mark.

The rupee has been gaining ground in the last few months, as the fundamentals of the economy, particularly the current account deficit have improved dramatically. In fact, the rupee has shown remarkable resilience, even as several emerging market currencies have fallen in the last few months.

Read more about: dollar, forex
Story first published: Friday, February 28, 2014, 10:02 [IST]
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