Mumbai, July 07: The Indian rupee dropped by 13 paise to near a one-month low at 47.03/04 against the dollar on persistent demand for the American currency from importers and banks amid weak equity markets.
At the Interbank Foreign Exchange, the domestic unit opened lower at 46.92/93 a dollar against yesterday’s close of 46.90/91. Later, it fell to 47.20 a dollar before closing the day at 47.03/04.
Dollar demand from importers and banks in view of a higher dollar overseas affected the rupee’s value against the US currency, a forex dealer said.
The dollar firmed in London today as the euro slipped on renewed concerns about the euro zone banking system.
Oil prices edged up in tepid Asian trade today. New York’s main contract, light sweet crude for delivery in August rose 13 cents to USD 72.11 a barrel.
The Indian benchmark sensex dropped by 143 points, or 0.
–Agencies