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Rupee softens 14 paise against US dollar

Press Trust of India  |  Mumbai 

The rupee weakened 14 paise to 63.72 against the in early trade at the today, following fresh demand for the American currency from banks and importers.

Moreover, the US dollar's gains against some currencies overseas on strong jobs data put the rupee on backfoot, dealers said.

However, a higher opening of the domestic capped the rupee's losses.

The rupee had strengthened by 11 paise to end at a fresh two-year high of 63.58 against the US currency on Friday even as panic dollar unwinding continued.

Meanwhile, the benchmark rose further by 61.11 points, or 0.18 per cent, to 32,386.52 in early trade.

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

First Published: Mon, August 07 2017. 09:42 IST