Mumbai, India (BBN) – The rupee breached the 68 mark against the US dollar at the forex market on Tuesday.
The weakness in Indian equities and the strengthening of the dollar overseas weighed on the rupee.
In European markets, the dollar climbed back towards a 14-year high on Tuesday as the yen fell after the Bank of Japan held policy steady and fallout from attacks in Germany and Turkey subdued the euro.
The rupee opened at 67.85 and traded between 68.05 and 67.81 in intra-day deals.
At about 4:00pm, it was quoting at 68.02 against the dollar.
Yesterday, the rupee had lost 11 paisa to end at 67.87 on fresh dollar demand from importers and banks.
Heavy capital outflows besides near—term consequences of the Federal Reserve rate hike largely kept market sentiments shaky despite a dollar retreat.
BBN/SS/AD