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    Default Rupee falls back by 31 paise against dollar

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    Reversing its initial gains, the rupee on Wednesday fell back by 31 paise to close at Rs. 51.78/79 against the U.S. currency following strong dollar demand from importers.

    The dollar strengthened in the overseas markets which dampened the rupee sentiments, a dealer said.

    At the Interbank Foreign Exchange (Forex) market, the domestic unit opened higher at Rs. 51.38/39 a dollar from overnight close of Rs. 51.47/48 and immediately touched a high of Rs. 51.35 on renewed selling of dollars by banks and exporters.

    But, late it reacted downwards to close at Rs. 51.78/79 per dollar, showing a loss of 31 paise or 0.60 per cent on fresh dollar demand from importers amidst firm dollar overseas.

    The BSE benchmark Sensex ended higher by 34.45 points or 0.20 per cent today.
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