Mumbai, India (BBN)-Indian rupee depreciated by 28 paisa in pre-close trade Monday to quote at 68.20 against the US dollar on the first trading day of 2017 due to fresh buying of the American currency by importers at the Interbank Foreign Exchange.
The rupee opened at 67.95 and traded between 68.21 and 67.93 in intra-day trade, reports the PTI.
Dealers said, increased demand for the American unit from importers weighed on the rupee. Besides, dollar’s gain against major world currencies and a weak trend at the domestic equity market also left its mark on the rupee.
The rupee had closed 18 paisa higher at 67.92 against the greenback in the previous session on December 30, 2016.