 "Rupee at fresh two-month low, down 17 paise to 63.88 vs dollar")
Continuing its slide for the sixth straight day, the rupee today lost 17 paise to trade at a fresh two-month low of 63.88 in early trade on strong dollar demand from importers amid weak local equities.
At the Interbank Foreign Exchange (Forex) market, the local currency opened lower at 63.88 a dollar from its previous close of 63.71.
Meanwhile, the retail inflation measured in terms of consumer price index (CPI) rose to 10.09% in October, entering double digits after seven months. The industrial production grew by 2% in September, mainly on account of better performance by power and mining sectors.
Forex dealers said besides sustained demand for the US currency from importers and a lower opening in the domestic equity market also put pressure on the rupee but dollar's weakness against euro in the global markets capped the fall.
The rupee had depreciated by 47 paise to close at 63.71 against the dollar in the previous session.
Meanwhile, the BSE benchmark Sensex fell by 53.97 points, or 0.27%, to 20,227.94 in early trade today.
At the Interbank Foreign Exchange (Forex) market, the local currency opened lower at 63.88 a dollar from its previous close of 63.71.
Meanwhile, the retail inflation measured in terms of consumer price index (CPI) rose to 10.09% in October, entering double digits after seven months. The industrial production grew by 2% in September, mainly on account of better performance by power and mining sectors.
Forex dealers said besides sustained demand for the US currency from importers and a lower opening in the domestic equity market also put pressure on the rupee but dollar's weakness against euro in the global markets capped the fall.
The rupee had depreciated by 47 paise to close at 63.71 against the dollar in the previous session.
Meanwhile, the BSE benchmark Sensex fell by 53.97 points, or 0.27%, to 20,227.94 in early trade today.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%