Mumbai, India (BBN)-The rupee was trading weak by 18 paise at 63.85 in the evening session due to strengthening of the greenback against other currencies overseas.
The rupee opened weak by 11 paise to 63.78 against the US dollar in early trade at the Interbank Foreign Exchange market today due to appreciation of the American currency overseas riding on strong economic data, reports PTI.
It further declined to 63.88 before being quoted at 63.85 at 4.30 pm local time. The domestic unit hovered in the range of 63.66 and 63.88 in the evening trade.
Forex dealers said increased demand for the dollar from importers also weighed on the local currency, but a frim domestic equity market limited the rupee’s fall.
The rupee had recovered by five paise to close at 63.67 against the US currency in the previous session due to fag-end selling of dollars by banks and exporters.
Meanwhile, the benchmark BSE Sensex surged 191.68 points or 0.69 per cent to end at 27,837.21.