The Indian rupee on 23 May 2013 declined by 37 paise to trade at a fresh six-month low of 55.83 in early trade at the Interbank Foreign Exchange market. Besides dollar’s strengthening 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 Indian currency.
On 22 May 2013, the rupee had lost five paise to close at 55.46, its lowest closing since 27 November 2012. Meanwhile, the BSE benchmark Sensex fell by 84.54 points, or 0.42 per cent, to 19977.70 in early trade on 23 May 2013.
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