The Indian rupee dropped on Friday, falling for a second straight session, as early losses in the local sharemarket weighed and trading remained thin amid a two-day strike called by Indian bank employees.
At 10:30 a.m. (0500 GMT), the partially convertible rupee INR=IN was at 47.77/78 per dollar, 0.2 percent weaker than its Thursday's close of 47.68/69. On Tuesday, the rupee had climbed to 47.43 -- its highest since June 12.
"The rupee has weakened on global cues. Asian units are down, Asian equities are also in the red so local shares are under a bit of stress on that," said Madhusudan Somani, head of foreign exchange trading at Yes Bank.
At 10:30 a.m. (0500 GMT), the partially convertible rupee INR=IN was at 47.77/78 per dollar, 0.2 percent weaker than its Thursday's close of 47.68/69. On Tuesday, the rupee had climbed to 47.43 -- its highest since June 12.
"The rupee has weakened on global cues. Asian units are down, Asian equities are also in the red so local shares are under a bit of stress on that," said Madhusudan Somani, head of foreign exchange trading at Yes Bank.
Read More: http://in.reuters.com/article/inRupeRpt/idINBOM45795420090807