Mumbai, India (BBN)-Indian rupee was trading lower by 7 paisa at 68.25 against the American currency in early trade Wednesday as the dollar gained strength overseas.
Forex dealers said increased demand for the US currency from importers and the dollar’s gains against other currencies overseas put pressure on the rupee, reports the PTI.
They said, however, a firm domestic equity market capped the rupee’s losses.
Yesterday, the rupee had ended 3 paise higher at 68.18 against the American currency in a rangebound trade amid weak dollar overseas.
Meanwhile, the benchmark BSE Sensex recaptured the 27,000-mark by surging 151.01 points, or 0.56 per cent, to 27,050.57 in the opening trade.