Mumbai, India (BBN) – The Indian rupee again broke below the 68-mark by depreciating 24 paisa to trade at 68.20 against the US dollar in early trade on Monday at the Interbank Foreign Exchange market due to increased demand for the American unit from importers and banks.
Moreover, sustained capital outflows and dollar’s strength against some other currencies overseas also weighed on the local unit but a higher opening in the domestic equity market limited the rupee’s fall, forex dealers said, reports PTI.
The rupee had closed steady at 67.96 against the US dollar on Friday amid renewed selling in the domestic equity against the backdrop of sustained capital outflows.
Meanwhile, the benchmark BSE Sensex recovered by 23.86 points or 0.09 per cent to 26,783.09 in early trade.