Rupee down 30 paise vs dollar

Mumbai, Nov 3: The Indian rupee was down by 30 paise at Rs 49.48 per US dollar in early trade today (Nov 3) on fresh demand for the American currency from banks and importers amid a stronger dollar in overseas markets.

The rupee resumed lower at Rs 49.42/43 per dollar on the Interbank Foreign Exchange (Forex) market, as against its previous close of Rs 49.18/19 per dollar, and moved down further to Rs 49.48 per dollar before quoting at Rs 49.36/37 per dollar at 1030 hours.

The domestic currency moved in a range between Rs 49.35 and Rs 49.48 per dollar during morning deals. Banks and importers preferred to purchase dollars at current levels in view of the higher dollar in overseas markets, a forex dealer said.

In the New York market, the dollar recouped some of its losses against the euro and other major currencies yesterday following reports that the next portion of Greece's international bailout may be held up until after the referendum Greek officials announced earlier this week.

PTI