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BW Businessworld

Rupee Weakens 10 Paise Against Dollar

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The rupee lost 10 paise against the US dollar at 64.16 in early trade on Monday, extending its weakness for the third straight day at the Interbank Foreign Exchange, due to sustained demand for the US currency from importers amid capital outflows.
Forex dealers attributed the rupee's fall to continued demand for the dollar from importers and euro's weakness against the American currency after negotiations between Greece and its creditors broke off.
Besides, a lower opening of the domestic equity market put pressure on the rupee, they said.
The rupee had depreciated 9 paise to close at 64.06 against the US currency in the previous session on Friday.
Meanwhile, the benchmark BSE Sensex fell 117.46 points, or 0.44 per cent, to 26,307.84 in early trade on Monday.

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