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Rupee drops 17 paise against US dollar

Press Trust of India  |  Mumbai 

The weakened by 17 paise to 67.87 against the US dollar in early trade at the interbank forex market today on fresh demand for the greenback from importers and banks.

Crude oil's breach of the USD 80 per barrel-mark in global market and a lower opening of the domestic equity market too weighed on the investor sentiment here.

Dealers attributed the rupee's fall to increased demand for the US from importers and foreign fund outflows. However, dollar's weakness against some currencies overseas capped the losses.

Yesterday, the had managed to hold its ground against the US currency, gaining by 10 paise to end at 67.70 per dollar.

Meanwhile, the benchmark BSE Sensex fell by 125.10 points, or 0.35 per cent, to 35,024.02 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: Fri, May 18 2018. 09:40 IST