 "Rupee weakens on importer dollar demand")
Continuing its losing streak for the fifth straight session, the rupee weakened by another 14 paise to 61.88 in early trade today at the Interbank Foreign Exchange on increased dollar demand from banks and importers.
Forex dealers said increased demand for the American unit from importers mainly weighed on the rupee, but surging domestic equity markets and the euro's gain against the dollar capped the fall.
The rupee had shed one paise to end at one-month low of 61.74 against the US dollar in yesterday's trade.
Meanwhile, the benchmark BSE Sensex opened higher by 130.72 points, or 0.46%, to hit another record-high of 28,294.01 in opening trade today.
Forex dealers said increased demand for the American unit from importers mainly weighed on the rupee, but surging domestic equity markets and the euro's gain against the dollar capped the fall.
The rupee had shed one paise to end at one-month low of 61.74 against the US dollar in yesterday's trade.
Meanwhile, the benchmark BSE Sensex opened higher by 130.72 points, or 0.46%, to hit another record-high of 28,294.01 in opening 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%