10 February,2009 11:47 AM IST | | PTI
The Indian rupee fell back by 14 paise to 48.71/72 against the greenback in late morning deals due to firm dollar and expectations of passing of USD 829 billion economic recovery package in the US Senate today.
At the Interbank Foreign Exchange (Forex) market, the local currency resumed lower at 48.68/69 per dollar from last close of 48.57/58 and moved further downwards to quote at 48.71/72 in late morning deals, snapping a three-day winning string.
It moved in a range of 48.65 and 48.79 a dollar. The dollar was up against its major rivals in the Asian trade today in anticipation of passage of the stimulus package by the US Senate today.
The Indian benchmark Sensex maintained its upward rally and rose by over 70 points in morning trade today.
However, Asian indices were quoting narrowly mixed in late morning trade on the back of nearly flat closing on the Wall Street yesterday. Meanwhile, global crude oil prices were quoting below USD 40 a barrel in Asian trade today.
