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Rupee slips 10 paise against dollar in early trade

Written by: Staff

Mumbai, Feb 22 (UNI) The rupee today opened flat at 44.41/42 against the dollar as compared to Tuesday's close of 44.4150/4250 at the forex market here, a dealer said.

The Indian unit slipped by 10 paise on dollar buying by the foreign banks to cover futures&options (F&O) positions in the equity markets, allowing the rupee to fall to 44.51/52 at 1146 hrs, the dealer added.

The rupee might get support from Rs 586 crore foreign fund inflow on Monday in the Indian equity markets.

The Bombay Stock Exchange Sensitive Index (Sensex) was trading with 50 points gain at 10,220 around 1100 hrs which may provide some cushion to the rupee at lower levels.

he global crude oil prices stayed above the USD 60 per barrel mark at USD 61.10 a barrel on the New York Mercantile Exchange (NYMEX), which may some pressure on the domestic currency at lower levels.


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