Rupee down by 36 paise vs dollar

Mumbai, Sep 29: The Indian rupee declined by 36 paise to Rs 49.11 per US dollar in early trade today (Sept 29) on fresh month-end demand for the American currency from importers, coupled with dollar gains in overseas market.

The rupee resumed lower at Rs 49.08/09 per dollar on the Interbank Foreign Exchange, as against Wednesday's close of 48.75/76 per dollar, and moved down further to Rs 49.11 per dollar before quoting at 48.92/93 per dollar at 1030 hours.

The domestic currency moved in a range between Rs 48.86 and Rs 49.11 per dollar during morning deals.

Fresh month-end dollar demand from importers, mainly oil refiners, coupled with dollar firmness in overseas markets, mainly affected the rupee sentiment, a forex dealer said.

In the New York market, the US dollar moved up against most major currency rivals, with the euro ending below USD 1.36 per euro yesterday as European policymakers continued to debate over the measures needed to tackle the threat of a Greek debt default.

PTI