Mumbai, India (BBN)-The rupee pared its initial losses, but was still down by 7 paise at 63.49 against the American currency in the evening session due to dollar demand from banks and importers.
The rupee opened lower at 63.54 against the previous close of 63.42 at the Interbank Foreign Exchange market. It slid further to 63.60 before quoting at 63.49 at 4 pm local time, reports PTI.
The domestic unit hovered in the range of 63.60 and 63.39 during the afternoon deals.
Overseas, In New York, the dollar was slightly firm against a basket of major currencies amid thin early trade as several key financial centres were shut for holidays.
Meanwhile, BSE Sensex ended lower by 50.45 points or 0.18 per cent at 27,440.14.
