Mumbai, India (BBN)-Extending Indian Rupee slide for the second straight day on Thursday, Indian rupee breached the 64 mark by falling 35 paise to 64.25 against the dollar in early trade on Thursday.
Sustained capital outflows by foreign funds amid appreciation of the American currency overseas weighed on Indian rupee, reports the Press Trust of India.
Besides, increased demand for dollar from importers and banks also went against the local currency, forex dealers said.
However, they said, a higher opening in the domestic equity market, capped the Indian rupee’s fall.
The Indian rupee had closed 8 paise lower at 63.90 against the US dollar in on Wednesday’s trade due to steady demand for the greenback from importers amid sliding equities.
Meanwhile, the benchmark BSE Sensex recovered 111.64 points, or 0.41%, to 26,948.84 in early trade.