The Hindu Business Line file photo
Mumbai, India (BBN) - The rupee weakened by 13 paisa to 64.57 against the US dollar in early trade on increased month-end demand for the American currency from importers and banks.
Forex dealers said the US dollar’s gain against other currencies overseas and a lower opening of the domestic equity market put pressure on the rupee, reports The Hindu Business Line.
The rupee had appreciated 18 paisa against the American currency to end at a one-week high of 64.44 on Friday as domestic equities soared to life-time highs.
Meanwhile, the benchmark BSE Sensex retreated from record highs by falling 158.31 points or 0.51 per cent to 30,869.90 in early trade.
BBN/SS/ANS