Forex tips: The rupee weakened further by 25 paise to trade at a fresh two-month low of Rs 62.80 against the US dollar in early trade today at the Interbank Foreign Exchange due to rise in the greenback's value against other currencies overseas. Dealers attributed the fall in rupee to dollar's gains against other currencies overseas and a lower opening in the domestic equity market. The Indian rupee had lost 39 paise to close at a two-month low of 62.55 against the American currency yesterday after better-than-expected jobs data spurred expectations of an early hike in US interest rates.
Euro sinks close to 12-year low versus dollar
The euro tumbled on Tuesday towards a 12-year dollar low , hit by eurozone stimulus, growing US rate hike speculation and Greek debt concerns, dealers said. In morning London deals, the European single currency sank to $1.0735 - - the lowest level since mid-April 2003. The region's stock markets were lower. The dollar neared an eight-year high against the yen as dealers bet on an interest rate hike from the Federal Reserve after bright US payrolls data. The greenback surged in Asian trading hours to a high of 122.03 yen, a level not seen since July 2007. It later stood at 121.65 yen in London.
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