Breaking its sixth-day rising streak, the rupee weakened by 19 paise to quote at 67.27 against the dollar at the Interbank Foreign Exchange (forex) market today, on fresh demand for the American currency from importers and banks.A firm dollar against some global currencies overseas weighed on the rupee, but further gains at the domestic equity market capped the losses, dealers said.

The rupee had surged to a fresh two and a half month high of 67.08 by gaining another 26 paise against the American currency in the previous session on Friday, on persistent selling of dollars by banks and exporters.The forex market remained closed yesterday on account of ’Mahashivratri’. Meanwhile, the benchmark BSE Sensex advanced 63.62 points, or 0.25 per cent, to 24,710.10 in early trade.

Source : thehindu.com

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