Indian rupee weakens as dollar pulls away from 5-month low

The Hindu Business Line file photo

Mumbai, India (BBN) – The Indian rupee weakened to 64.63 as the dollar pulled away from five-month lows, with comments from US Treasury Secretary Steven Mnuchin and higher debt yields giving the bruised greenback some breathing space.
The domestic unit opened strong by 3 paise at 64.49 at the Interbank Foreign Exchange market today, reports PTI.
It hovered in a range of 64.63 and 64.47 before quoting at 64.59, down 7 paise at 4:45pm local time.
Yesterday, the rupee had lost 11 paise to close at 64.52 on fresh bouts of dollar demand from importers amid continued geo-political headwinds.
The dollar index, measuring it against a basket of major currencies, was 0.1 per cent lower at 100.25 after rising to 100.40 earlier in the session.
Meanwhile, the benchmark BSE index ended 94.56 points or 0.32 per cent lower at 29,319.10.
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