Rupee drops 5 paise against dollar in early trade

Forex Tips: The rupee depreciated by five paise at 62.57 against the US dollar in early trade today on fresh demand for the American currency from importers. Besides, a lower opening in domestic equity markets put pressure on the local unit, forex dealers said. The rupee had gained 17 paise to end at 62.52 against the US dollar yesterday. Meanwhile, the benchmark BSE Sensex fell by 136.92 points, or 0.48 per cent, at 28,332.75 in early trade today.

Euro edges up in Asia after Greece promise

The euro ticked higher Friday after Greece promised to provide its creditors with a new list of reforms to secure crucial bailout cash and avoid an exit from the euro zone. The single currency bought $1.0688 and 129.03 yen in Tokyo, against $1.0660 and 128.77 yen in New York as Greek Prime Minister Alexis Tsipras said its bailout was "back on track". The dollar also eased to 120.72 yen from 120.80 yen in US trade but is well up from the 119.57 yen touched Wednesday soon after the Federal Reserve lowered its forecasts for US interest rates.

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