ALSO READRupee opens 20 paise lower at 64.51 against dollar Rupee furthers gains by 10 paise in early trade Dollar capped after Yellen, Canadian dollar stands tall on BOC rate hike Dollar hit as year-end U.S. rate hike bets cool after weak data Rupee ends steady at 64.43 vs dollar, global risks weigh
The rupee dropped by 16 paise to 64.16 against the US dollar in early trade trade at the interbank forex exchange today on fresh buying of the American currency by importers. Traders said the dollar's strength against some currencies overseas on expectations of an interest rate hike this year weighed on the rupee. Yesterday, the rupee had ended four paise higher at 64.00 on fresh selling of the American currency by exporters amid heavy foreign capital outflows. Meanwhile, the benchmark BSE Sensex advanced by 120.62 points, or 0.37 per cent, to 32,307.03 in early trade.
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