Rupee at new 6-mth low at 55.83;down 37p Vs USD in early trade
business 11:36
New Delhi, May 23: The rupee on Thursday declined by a hefty 37 paise to trade at a fresh six-month low of 55.83 in early trade at the Interbank Foreign Exchange market on sustained dollar demand and strengthening of the US currency overseas.Forex dealers said besides dollar's gains against euro and other currencies in the overseas markets, sustained dollar demand from importers and some banks and a lower opening in the stock market put pressure on the domestic currency.
On Wednesday, the rupee had lost five paise to close at 55.46, its lowest closing since November 27, 2012.
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