Mumbai, India (BBN) – The rupee was trading weak by 16 paisa to 68.22 against the dollar on increased month-end demand for the US currency from importers amid sustained foreign fund outflows.
However, the dollar’s weakness against some currencies in the global market and a firm domestic equity market restricted the fall, dealers said.
The domestic unit opened weak by 4 paise at 68.10 at the Interbank Foreign Exchange market today. It hovered in a range of 68.24 and 68.10 before quoting at 68.22 at 11:20am local time.
Yesterday, the rupee had dropped by 32 paisa to close at 68.06 against the US currency on month-end dollar demand from importers and banks amid persistent foreign capital outflows.
Meanwhile, the benchmark BSE Sensex was trading higher by 92.16 points or 0.35 per cent at 26,305.60.