Mumbai, India (BBN)-The rupee weakened to Rs. 68.26 following bouts of dollar demand from importers despite firm domestic equities.
The rupee opened higher at 68.11 per dollar against last yesterday’s closing level of 68.16 at the Inter-bank Foreign Exchange (Forex) market on Tuesday, reports The Hindu Business Line.
Later, it hovered in the range of 68.26 to 68.09 per dollar, before quoting at 68.22, down 6 paise at 4:55pm local time.
The dollar took a breather on Tuesday as investors consolidated the gains built on expectations of increased fiscal spending and higher inflation under a Trump administration.
The dollar held steady against the yen at 110.76 yen, having pared its losses after slipping to as low as 110.27 yen earlier on Tuesday.
The dollar index, which measures the greenback against a basket of major currencies, was down 0.2 per cent at 100.860, falling further after snapping a 10-day rising streak on Monday.
Meanwhile, the benchmark BSE index snapped six sessions of falls to end 195.64 points or 0.76 per cent higher at 25,960.78.