Rupee loses 23 paise vs dollar in early trade

Rupee loses 23 paise vs dollar in early trade

The rupee resumed lower at Rs 53.15/16 per dollar on the Interbank Foreign Exchange, as against its previous close of Rs 53.07/08 per dollar, and moved down further to Rs 53.30 per dollar before quoting at Rs 53.19/20 per dollar at 1030 hours.

The domestic currency moved in a range between Rs 53.08 and Rs 53.30 per dollar during morning deals.

Sustained month-end dollar demand from oil companies mainly affected the rupee value against the dollar, a forex dealer said.

The BSE benchmark Sensex was up by 95.83 points, or 0.62 per cent, at 15,639.76 at 1015 hours.

Meanwhile, crude oil rose in Asian trade today, spurred by heightened tensions between the US and major crude producer Iran, analysts said. Crude for February delivery advanced by 47 cents to USD 100.12 a barrel.

In New York, the dollar moved down against the euro yesterday, bringing the shared currency off a 15-month low after a pair of positive US economic reports gave a boost to equities and reduced the appeal of the greenback as a safe haven investment

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