Rupee drops on share losses

MUMBAI:India, April, 13th, 2010
The rupee weakened further on Tuesday tracking weak regional peers and a subdued start to the domestic share market, which could prompt

Forex Converter
Convert
Rs.ToUS DollarCAN DollarChinese YuanEuroHK DollarIndonesian RupiahJapanese YenKorean WonKuwaiti DinarMalaysian RinggitRussian RoubleSing DollarSwiss FrancUAE DirhamUK Pound

foreign fund withdrawals.

At 9:15 a.m., the partially convertible rupee was at 44.64/65 per dollar, weaker than its Monday close of 44.47/48. The rupee had risen as high as 44.18 intra-day on Monday, its strongest since Sept. 8, 2008.

Dealers said inflows related to the government's multi-billion dollar 3G auction were still very small and they were watching the event closely to gauge the extent. Most Asian currencies were weaker compared to the dollar.

Indian shares edged lower in choppy trade early on Tuesday, with financials leading the decline, taking cues from weak Asian markets