The Hindu file photo
Mumbai, India (BBN) - The rupee dropped by 24 paisa to 64.55 against the American currency in early trade ahead of the September quarter GDP data.
Currency dealers said apart from increased month-end demand for the US currency from importers and a weak domestic equity market, dollar’s gains against other currencies overseas on upbeat US economic growth data weighed on the rupee, reports The Hindu Business Line.
Yesterday, the rupee had maintained its upbeat trend for the third straight session and ended at a fresh two-month high of 64.31, up 10 paisa against the US dollar, ahead of GDP data.
Meanwhile, the benchmark BSE Sensex dropped 185.24 points or 0.55 per cent to 33,417.52 in early trade.
BBN/MMI/ANS