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Rupee softens 10 paise against US dollar

Press Trust of India  |  Mumbai 

The rupee weakened 10 paise to 64.53 against the today on lurking fears that the US Fed is not done with raising borrowing costs, which would trigger capital flight from emerging countries, including

The US currency's increasing appeal among importers and banks led to foreign capital outflows.

According to traders, the dollar's strength against some currencies overseas on Fed's plan to stick to hiking rates pushed down the rupee.

A higher opening in the domestic salvaged the situation for the rupee to an extent though, they said.

Yesterday, the rupee had ended flat at 64.43 against the US currency in a fairly range-bound trade.

Meanwhile, the benchmark rose further by 80.96 points, or 0.25 per cent, to 31,392.53 in the opening trade today.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, June 20 2017. 09:57 IST