Indian rupee weakens by 18 paisa to 65.05 on fresh US dollar demand

Hindu Business Line file photo

Mumbai, India (BBN) – The Indian rupee depreciated 18 paisa to 65.05 against the US dollar in early trade at the Interbank Foreign Exchange market Thursday on fresh demand for the American unit from importers and banks.
Dealers attributed the rupee’s fall to fresh demand for the US currency and a weak domestic equity market, reports The Hindu Business Line quoting PTI.
However, dollar’s weakness against some currencies in the global market limited the rupee’s fall, they said.
Yesterday, the rupee had gained 16 paisa to close at a fresh 17-month peak of 64.87 against the US dollar on heavy selling of the American currency by banks and exporters.
Meanwhile, the benchmark BSE Sensex was down 121.94 points or 0.40 per cent at 29,852.30 in early trade.
BBN/SK/AD

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