Indian rupee weakens by 11 paisa to 65.14

The Hindu file photo

Mumbai, India (BBN) – The Indian rupee weakened 11 paisa to 65.14 against the US dollar in early trade at the Interbank Foreign Exchange market Wednesday on increased demand for the American currency from importers and banks.
Forex dealers said that increased demand for the US currency from importers and the dollar’s gains against some currencies overseas put pressure on the rupee, reports The Hindu Business Line quoting PTI.
However, a higher opening in the domestic equity market capped the rupee’s losses, they said.
On Monday, the rupee had lost 18 paisa to close at 65.03 against the US dollar.
Forex market had remained shut yesterday on account of ’Ramnavami’.
Meanwhile, the benchmark BSE Sensex breached the key 30,000-mark by surging 97.26 points or 0.32 per cent to 30,007.48 in early trade.
BBN/SK/AD

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