Mumbai, India (BBN)-The rupee weakened by 40 paise to 62.73 against the US dollar in noon trade on Thursday at the Interbank Foreign Exchange on month-end demand for the American currency from banks and importers.
Forex dealers attributed the fall in the rupee to increased demand for the dollar from importers and a lower opening of the domestic equity market but the Greenback’s weakness against other currencies overseas, capped the rupee’s losses, reports the PTI.
The rupee had snapped its seven-day winning spree by slipping seven paise to close at 62.33 against the dollar in yesterday’s trade.
Meanwhile, the benchmark BSE Sensex slipped below the 28,000-level by falling 278.64 points, or 1 per cent, to 27,833 in early trade today.
BBN/AD-26Mar15-2:00pm (BST)