Mumbai, Sep 25 (PTI) The rupee dropped by 28 paise against dollar to 46.22/23 in morning trade following persistent demand for the US currency amid poor supply. In active trade at the Interbank Foreign Exchange (Forex) market, local currency opened lower at 46.10/12 and dropped further to 46.25/26 before being quoted at 46.22/23 at 1100 hrs as against the overnight close of 45.94/95 a dollar.
Dollar buying by oil refiners to meet their month-end requirements weighed on the rupee. The Indian benchmark Sensex was down by 66.97 points at 13,625.55 in early trade as well as Asian stocks declined following doubts over the US government's proposed USD 700 billion bailout plan and worries about the economic fallout from the crisis.
Global crude oil prices were trading near USD 106 a barrel in Asian trade today. PTI.
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