Public Relations

Rupee starts New Year on weak note, sheds 7 paise

The rupee depreciated by 7 paise against the dollar on the first day of New Year today due to firm demand for the US currency which rose to three-month high against other major currencies. - Rupee to appreciate further - Dollar set for weekly drop on continuing stimulus buzz - Rupee gains 12 paise against in early trade - Palm oil declines for third day on low appeal - Rupee falls by 4 paise in opening trade - Rupee gains 4 paise in early trade At the Interbank Foreign Exchange (Forex) market, the domestic unit traded 7 paise down at 46.60 a dollar. The rupee had ended 21 paise higher at 46.53/54 a dollar in the previous trading. Dealers said the dollar rose to a three-month high against Japanese yen after reports that US jobless claims fell to the lowest since 2008 putting pressure on the Indian rupee. Demand for the dollar from oil refiners and importers also weighed on rupee sentiment, they said.

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