Mumbai, India (BBN)-Indian rupee weakened 12 paise to quote at 68.74 against the dollar in early trade at the Interbank Foreign Exchange (forex) market Monday on month-end demand for the American currency from importers and banks.
A firm dollar against some global currencies overseas and a lower opening of the domestic equity market weighed on the rupee, dealers said, reports the PTI.
The rupee bounced back by 10 paise to end at 68.62 against the American currency in Friday’s trade on fag-end selling of dollars on the back of a recovery in the equity market.
BBN/SK/AD