Rupee down by 46 paise vs US dollar

Mumbai, Nov 1: The Indian rupee was down by 46 paise at Rs 49.15 per US dollar in early trade today on fresh demand for the American currency from banks and importers on the back of a strong dollar in overseas markets.

The rupee resumed lower at Rs 48.83/84 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 48.69/70 per dollar, and dropped further to Rs 49.15 per dollar before quoting at Rs 49.03/04 per dollar at 1030 hours.

The domestic currency moved in a range between Rs 48.80 per dollar and Rs 49.15 per dollar during morning deals. Banks and importers preferred to increase their dollar position in view of the firming dollar in international markets, a forex dealer said.

In the New York market, the US dollar and the euro climbed sharply against the yen yesterday after news that an undisclosed amount of the Japanese currency was sold in the foreign exchange market by Japan.

PTI