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Rupee softens 13 paise against dollar in early trade

Press Trust of India  |  Mumbai 

The rupee weakened 13 paise to 68.51 against the in early trade today, snapping its two-session gaining spree at the on fresh demand for the American currency from banks and importers.

Dealers attributed the rupee's fall to the dollar's strength against some other currencies overseas on speculation that the Federal Reserve will raise in December but a higher opening of the domestic and country's accelerating to 7.3 per cent in the September quarter, capped the fall.

Yesterday, the rupee had continued its strong recovery for the second day, surging by 27 paise to close at 68.38 against the US currency.

Meanwhile, the benchmark rose by 116.51 points or 0.43 per cent to 26,769.32 in early trade.

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

First Published: Thu, December 01 2016. 09:48 IST