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Rupee remains on a shaky pitch, sinks 24 paise

Rupee vs dollar

Mumbai: Extending its slide for the eighth straight day, the rupee shed another 24 paise to 65.34 agains the dollar in early trade today, its weakest level since September 2013, on appreciation of the American currency against others overseas.

Besides, sustained demand for the dollar from importers and banks and devaluation of the Chinese yuan early this week continued to weigh, forex dealers said.

However, a higher opening in the domestic equity market capped the rupee’s fall, they added.

The rupee had plummeted 32 paise to close at 65.10 against the dollar in yesterday’s trade as China further devalued the yuan.

The rupee had dropped 136 paise, or 2.13 per cent, in the last seven trading sessions as the Chinese central bank’s continued its efforts to guide the yuan lower.

Meanwhile, the benchmark BSE Sensex rose further by 162.03 points, or 0.58 per cent, to 27,711.56 in early trade.

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