The rupee failed to maintain initial gains against the dollar in late morning deals today and was quoted lower by 6 paise to 54.20 on fresh demand of the American currency from banks and importers amid its higher value overseas. The Indian rupee resumed lower at 54.25 per dollar as against the last closing level of 54.14 at the Interbank Foreign Exchange, Forex Market. It moved in a range of 54.09 and 54.30 per dollar during the morning deals.In New York market, the euro turned down against the US dollar yesterday after comments from European Central Bank President Mario Draghi boosted some analysts' expectations that the central bank could lower interest rates.
News On AIR | December 7, 2012 11:56 AM
Rupee down 6 paise at 54.20 against dollar