Mumbai, India (BBN)-Indian rupee weakened by 13 paise to 63.59 against the US dollar in early trade on Wednesday, extending losses for the second day, due to appreciation of the American unit against other currencies overseas amid Greece’s crisis.
Besides increased demand for the dollar from importers, a lower opening in the domestic equity market also weighed on the local currency, Forex dealers said, reports the Press Trust of India.
The rupee had slipped by 6 paise at 63.46 in Tuesday’s trade due to fresh demand for the American currency from banks and importers amid strong overseas sentiments.
Meanwhile, the benchmark BSE Sensex dipped below the 28,000-mark by plunging 291.65 points or 1.04 per cent to 27,880.04 in early trade.