March 3, 2011 11:30 AM

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Rupee depreciates further by 15 paise

The Indian rupee slid further by 15 paise to 45.10 against the US dollar in early trade today. This follows fresh dollar demand from banks and corporates despite dollar weakness overseas. In fairly active trade on the Interbank Foreign Exchange, the Indian rupee resumed lower at 44 rupees dollar as against the previous close of 44 rupees 95 paise and dropped further to 45 rupees 10 paise. The dollar extended its losses against the euro in the New York market yesterday as oil prices rose above 101 dollars a barrel, increasing the risk of inflation amid expectations that the European Central Bank will be quicker to react than the Federal Reserve.

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