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BW Businessworld

Rupee Down 35 Paise Against Dollar, Breaches 64-Level

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Extending its slide for the second straight day on Thursday, the rupee breached the 64 mark by falling 35 paise to 64.25 against the dollar in early trade on sustained capital outflows by foreign funds amid appreciation of the American currency against others overseas.
Besides, increased demand for dollar from importers and banks weighed on the local currency, forex dealers said.
However, they said, a higher opening in the domestic equity market, capped the rupee's fall.
The rupee had closed 8 paise lower at 63.90 against the US dollar in Wednesday's trade due to steady demand for the greenback from importers amid sliding equities.
Meanwhile, the benchmark BSE Sensex recovered 111.64 points, or 0.41 per cent, to 26,948.84 in early trade.

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