Comments
The rupee was trading weak by 8 paise at 60.69 against the dollar at 4.26 p.m. local time.
The domestic unit declined by 13 paise to 60.74 against the US dollar in early trade today due to appreciation of the American unit against other currencies overseas.
Besides, fresh demand for the US dollar from importers also put pressure on the rupee.
The rupee hovered in the range of 60.61 and 60.79 against the dollar in the afternoon trade.
The local unit had gained six paise to close at almost three-week high of 60.61 against the dollar yesterday on constant selling of the American currency by exporters and some banks amid increased inflows.
Dealers attributed the fall in the rupee today to dollar’s gains against other currencies overseas but a higher opening in the domestic equity market capped the fall.
Meanwhile, the benchmark BSE Sensex rose 56.30 points or 0.21 per cent to 26,370.59 in early trade.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.