Mumbai, India (BBN) – Indian rupee weakened by 5 paisa to 68.08 against the US dollar in early trade, snapping its 3-day winning run, owing to month-end demand for the American currency from importers amid a weak equity market.
Forex dealers said increased demand for the US currency from importers put a squeeze on the rupee, but the dollar’s weakness against other currencies overseas capped the losses, reports PTI.
The rupee had firmed up by 4 paise to close at 68.03 against the US dollar on Friday amid modest dollar selling by banks and exporters.
Meanwhile, the benchmark BSE Sensex fell 34.71 points, or 0.12 per cent, to 27,847.75 in early trade.