Mumbai, India (BBN)-The rupee was trading lower against the US dollar today at the Interbank Foreign Exchange.
At 2.30 pm, the rupee was quoting at 63.20, down 5 paise from Tuesday's close.
The rupee opened at 63.22 and traded between 63.14 and 63.28 during the day's trade, reports PTI.
Forex dealers said besides month-end demand for the US dollar, a lower opening in the domestic equity market weighed on the rupee.
They said, however, dollar’s weakness against other currencies overseas on weaker US data capped the rupee’s fall.
The rupee had gained 33 paise to close at 63.15 against the American currency in yesterday’s trade on persistent selling of dollars by banks and exporters.