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Rupee skids 23 paise to close at 75.42 against US dollar

Rupee down 12 paise against dollar

By PTI

| Updated: Monday, October 1, 2012, 17:01 [IST]

Mumbai, Oct 1: The rupee today fell by 12 paise to trade at 52.97 against the US dollar in early trade at the Interbank Foreign Exchange as the American currency firmed against euro and other currencies in the overseas market.

Dealers said strengthening of dollar against the euro overseas amid worries over Spain's debt problems mainly put pressure on the local unit but a higher opening in the domestic equity market, capped the rupee's losses.

Meanwhile, the BSE benchmark Sensex rose by 52.65 points, or 0.28 per cent, to 18,815.39 in early trade. The rupee had gained 17 paise to close at five-month high of 52.85 against the US currency on Friday on strong capital inflows, advances in stock markets and hopes of more policy reforms.

PTI