Rupee falls to two-month low of 46.05 per USD in early trade

Written by: Pti
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Mumbai, Jan 31 (PTI) The Indian rupee was down 29 paiseat a two-month low of 46.05 against the US dollar in earlytrade on the Interbank Foreign Exchange today amid month-enddemand for the American currency from importers.

At the Interbank Foreign Exchange, the Indian rupeeresumed lower at 45.97/98 per dollar as against last weekend''sclose of 45.76/77 per dollar. It later dropped further to46.05 per dollar before quoting at 45.98/99 per dollar at 1030hours.

The rupee moved between 45.90 and 46.05 per dollar inmorning deals.

World oil prices rose in Asian trade today on fears thatmounting political tensions in Egypt would disrupt suppliesflowing through the Suez Canal, analysts said. New York''s maincontract, light sweet crude for March delivery, was up 37cents to USD 89.71 per barrel in early trade.

A sharp fall in the domestic equity market due to loweradvices from other Asian bourses adversely affected the rupeevalue against the dollar as well. The Indian benchmark Sensexwas down by 236 points, or 1.28 per cent, at 1015 hours today.


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