Rupee devalue by four paise to 63.29 against the US dollar in early trade today at the Interbank Foreign Exchange on new demand for the American currency from banks and importers.The Forex dealers said besides the dollar's gains profit against other Asian currencies, increased demand for the American unit from importers donated to the rupee's weakness but a higher opening in domestic equities, capped the fall.Rupee had gained profit of five paise to end at 63.25 against the dollar in yesterday's trade on fresh selling of the US currency by exporters amid bullish stocks. The benchmark BSE Sensex increased by 49.46 points, or 0.18 per cent, to 27,751.25 in early trade today.
As dollar cherish its firm tone Asian currencies slipped
Asian currencies extremity low -laying on Tuesday, pressured by the dollar's firm tone, with the Taiwan dollar strike a fresh four-year low-laying due partly to US dollar buying by local importers.Malaysian ringgit slided down and came within sight of a five-year low of 3.5040 versus the dollar set earlier this month, escape after oil prices fell the previous day.Worries that lower oil prices may hurt the economic fundamentals of Malaysia, a net oil exporter, have added to the recent weakness the ringgit.Taiwan dollar extended its recent losses and slided to 31.669 versus the dollar, its lowest level since September 2010.
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