Indian rupee weakens to 64.58

The Hindu Business Line file photo

Mumbai, India (BBN) – The Indian rupee weakened to 64.58 as the dollar pulled away from five-month lows, with comments from US Treasury Secretary Steven Mnuchin and higher debt yields giving the bruised greenback some breathing space.
However, a strong domestic equity market limited the rupee’s losses, reports PTI.
The domestic unit opened strong by 3 paise at 64.49 at the Interbank Foreign Exchange market today.
It hovered in a range of 64.58 and 64.49 before quoting at 64.55, down 3 paise at 11.15 am local time.
Yesterday, the rupee had lost 11 paise to close at 64.52 on fresh bouts of dollar demand from importers amid continued geo-political headwinds.
Meanwhile, the 30-share BSE index Sensex was trading higher by 250.81 points or 0.85 per cent at 29,664.47.
BBN/SS/ANS

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