Mar 29, 2012, 10.41 AM IST | Source: Reuters

Rupee falls on inflow uncertainty, importer demand

The rupee fell early on Thursday as weak economic data from the United States and China added to the clouded outlook for capital inflows caused by proposed changes in Indian tax laws.

Rupee falls on inflow uncertainty, importer demand

The rupee fell early on Thursday as weak economic data from the United States and China added to the clouded outlook for capital inflows caused by proposed changes in Indian tax laws.

Foreign brokerages are complaining the recent provisions to tax indirect investments and combat tax evasion, saying they are couched in ambiguous language and could also be used to target overseas market investors, risking a sell-off in markets.

The rupee was at 51.05-06 to the dollar, weaker than Wednesday's close of 50.7750-7850, with payments for oil imports also weighing.

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