Indian rupee weakens to 64.44 on FII outflows

The Hindu file photo

Mumbai, India (BBN) – The rupee depreciated by 6 paisa to 64.44 against the dollar at the interbank forex market today ahead of the announcement of RBI’s monetary policy amid foreign fund outflows.

Dealers said increased demand for the American currency from importers also weighed on the rupee, but the dollar’s weakness against other currencies overseas limited the losses, reports The Hindu Business Line.

Yesterday, the rupee had struggled to hold on to early strong gains and eventually ended the day almost flat at 64.38 against the US dollar.

Meanwhile, the benchmark BSE Sensex fell 100.07 points or 0.30 per cent to 32,702.37 in early trade.

BBN/MMI/ANS

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