MUMBAI: The Indian rupee dropped by 22 paise to Rs 44.60 a US dollar in the morning trade on persistent dollar demand from importers on the back of firm dollar overseas.
According to forex dealers, there was good dollar demand from corporates as well as some buying by oil refiners, which weighed on the rupee heavily.
In fairly active trade at the Interbank Foreign Exchange (Forex) market, the domestic unit opened lower at 44.55/56 per dollar against the Monday's closing of 44.38/39 per dollar, before quoting at 44.49/50 per dollar at 1030 hours.
It moved in a range of Rs 44.45-44.60 against dollar in morning deals.
The US dollar index edged higher in Sydney market in the early trade, recovering some ground against the Japanese yen and the Swiss franc in a bout of safe-haven buying.
toi
According to forex dealers, there was good dollar demand from corporates as well as some buying by oil refiners, which weighed on the rupee heavily.
In fairly active trade at the Interbank Foreign Exchange (Forex) market, the domestic unit opened lower at 44.55/56 per dollar against the Monday's closing of 44.38/39 per dollar, before quoting at 44.49/50 per dollar at 1030 hours.
It moved in a range of Rs 44.45-44.60 against dollar in morning deals.
The US dollar index edged higher in Sydney market in the early trade, recovering some ground against the Japanese yen and the Swiss franc in a bout of safe-haven buying.
toi
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