Rupee turns weak against dollar inearly trade

MUMBAI: The rupee dropped marginally against the US currency to 64.14 in early trade today on some dollar demand from importers and banks.

The rupee opened lower by 5 paise at 64.18 against the last close of 64.13 at the interbank foreign exchange. It moved in a range of 64.18 to 64.13 in early trade before quoting at 64.14, down by 1 paise, at 0930hrs.

Forex dealers said dollar demand from banks and importers weighed on the rupee.

A weakness in the US dollar against some currencies in the global market and a higher opening of the domestic equity market, however, limited the fall.

Yesterday, the rupee had ended lower by 5 paise to 64.13 on fag-end demand for the American currency from banks and importers on the back of higher greenback overseas.

Meanwhile, the benchmark BSE Sensex was trading higher by 100.35 points, or 0.30 per cent, at 32,524.11 in opening deals.

 

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Author

PTI