Indian rupee weakens by 16 paisa on dollar demand

The Hindu file photo

Mumbai, India (BBN) – Indian rupee weakened by 16 paisa to 64.66 against the US dollar in early trade following increased demand for the American currency from importers and banks amid a weak domestic equity market.
Forex dealers said the US dollar’s gain against other currencies overseas and a weak domestic equity market dragged the rupee down, reports PTI.
The rupee had ended lower by 6 paisa at 64.50 yesterday on month-end demand for the dollar from importers.
Meanwhile, the benchmark BSE Sensex retreated from the record close by falling 41.24 points or 0.13 per cent to 31,068.04 in early trade.
BBN/SSK/AD

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