Rupee down 13 paise on strong dollar demand
Mumbai: The rupee weakened by 13 paise to 64.95 against the dollar at the Interbank Foreign Exchange in early trade today on demand of the US currency among importers amid shrinking exports in September.
The dollar was firm against major global currencies following stronger-than-expected US inflation data which dampened rupee sentiment, dealers said. The rupee also fell due to fresh demand for the American currency from importers and a lower opening in domestic equity markets, they added.
The rupee had gained 21 paise to close at 64.82 against the US dollar in yesterday's trade on sustained selling of greenback by banks and exporters amid persistent foreign capital inflows into the equity market. Meanwhile, the benchmark Sensex slipped below the 27,000-mark by falling 51 points, or 0.19 per cent, to 26,959.14 in early trade.