Rupee at over two and half month low, down 18 paise against dollar

Sustained foreign fund outflows amid a lower opening in the domestic stock market has affected the value of the rupee

The rupee slid for the ninth day as it depreciated 18 paise more to trade at over two and half month low of 67.67 against the dollar today, hit by sustained foreign fund outflows amid a lower opening in the domestic stock market.

Besides, persistent demand for the American currency from importers and banks and dollar's strength against other currencies overseas on renewed possibility of the US Fed raising borrowing costs as early as June weighed, forex dealers said.

The rupee had ended 5 paise lower at 67.49 yesterday on continuous demand for the greenback from banks and importers amid a fall in domestic equities.

Meanwhile, the benchmark Sensex fell 37.94 points, or 0.15%, to 25,192.42 in early session.