Rupee ends at over one-week low of 62.02 Vs USD

Zee Media Bureau

The Rupee declined 14 paise to end at over one-week low of 62.02 against the US currency Wednesday at the Interbank Foreign Exchange due to dollar's gains against its rivals overseas.

Foreign institutional investors sold Indian shares worth Rs 2.21 billion yesterday, which also weighed on the rupee.

The partially convertible rupee closed weaker at 62.02 per dollar, compared with Tuesday`s close of 61.88.

The currency had earlier weakened to as much as 62.0475 to the dollar, its weakest since Dec. 1.

The fall bucked the trend of higher Asian currencies on Wednesday as the yen briefly strengthened past 119 per dollar, prompting short-covering in regional units despite rising risks of deflation in China.

With agency inputs