Rupee Softens 10 Paise Against Dollar as Demand for US Currency Picks Up
The rupee today weakened 10 paise to 64.68 against the dollar in early session as demand for the American unit from importers and banks picked up.
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Mumbai: The rupee today weakened 10 paise to 64.68 against the dollar in early session as demand for the American unit from importers and banks picked up. Other than the demand surge, the dollar stayed ahead of the curve against a few currencies overseas that pushed down the rupee.
It was domestic equities with a higher start that came to the rescue and limited the rupee's losses, forex dealers said. On Friday, the rupee had staged a mild recovery by gaining 5 paise to close at 64.58 against the dollar in a cautious trade.
The benchmark Sensex rose 147.59 points, or 0.48 per cent, to 31,069.20 in early trade on Monday.
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