Rupee down 18 paise in early trade

The Indian rupee quoted low by 18 paise against the dollar in early trade today following weak Asian currencies and selling of the USD by banks.

The Indian rupee quoted low by 18 paise against the dollar in early trade today following weak Asian currencies and selling of the USD by banks.

At the Interbank Foreign Exchange (Forex) market, the local unit, fell 18 paise to 47.29 against the dollar. The rupee had closed up nine paise at 47.11/12 in Friday's deals.

Foreign dealers said besides banks selling dollars, Asian currencies trading weak against the greenback in the overseas markets was a reason for the rupee to fall.

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