Mumbai: Moving in tandem with the local equity markets, the Indian rupee on Monday surrendered early gains to fall from the high of 49.05, to close 22 paise down at 49.50/52 against the dollar. In active trade at the Interbank Foreign Exchange (Forex) market, the rupee resumed higher at 49.06/08 a dollar from its last weekend''s close of 49.28/29 per dollar.
It touched a high of 49.05, level in morning deals as the Sensex was up by over 150 points in early trade. However, a sudden sell-off in equities due to the uncertainty over the Lok Sabha election results, due on May 16, weighed on the rupee and it fell to a low of 49.52 before concluding the day at 49.50/52 per dollar. The Sensex closed lower by 193.44 points or 1.63 per cent while, the dollar demand from importers, mainly oil refiners, also dampened rupee sentiment.
It touched a high of 49.05, level in morning deals as the Sensex was up by over 150 points in early trade. However, a sudden sell-off in equities due to the uncertainty over the Lok Sabha election results, due on May 16, weighed on the rupee and it fell to a low of 49.52 before concluding the day at 49.50/52 per dollar. The Sensex closed lower by 193.44 points or 1.63 per cent while, the dollar demand from importers, mainly oil refiners, also dampened rupee sentiment.
