Rupee again breaches 68-mark, down 28 paise in early trade
Mumbai : The rupee again broke below the 68-mark by depreciating 28 paise to trade at 68.26 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.
This was the third consecutive day of fall. 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 14 paise to close at 67.98 per dollar in yesterday’s trade on sustained demand for the US currency from banks and importers amid a massive fall in equities as the Reserve Bank kept its key policy rate unchanged.
Meanwhile, the benchmark BSE Sensex tumbled by 275.35 points or 1.12 per cent to 24,263.65 in early trade.