Mumbai, India (BBN)-Indian Rupee slipped 5 paise to hit intraday low of 63.90 against the US dollar at the Interbank Foreign Exchange on sustained buying of the US currency by importers and banks.

CAD narrowed sharply to USD 1.3 billion, or 0.2 per cent of GDP, on a sequential basis, mainly on account of a lower trade gap, reports the Press Trust of India.

Forex dealers said a higher opening in domestic stock market supported the rupee, but the dollar’s strength against other currencies overseas limited the gains.

The rupee had risen 8 paise to close at 63.85 against the greenback in yesterday’s trade on persistent dollar selling by banks and exporters on hopes of foreign capital inflows amid a strong capital market.