The rupee again broke below the 68-mark by depreciating 26 paise to 68.20 against the dollar in early trade at the Interbank Foreign Exchange due to increased demand for the American unit from importers and banks amid a lower opening in the domestic equity market.

Moreover, sustained capital outflows also weighed on the domestic unit but dollar’s weakness against some currencies overseas limited the rupee’s fall, forex dealers said.

The rupee had lost 30 paise to close at 67.94 per dollar in Monday’s trade on persistent demand for the American currency from banks and importers on the back of higher greenback overseas.Meanwhile, the benchmark BSE Sensex tumbled by 373.95 points or 1.53 per cent to 23,919.47 in early trade.

Source : thehindu.com

Save