Mumbai, India (BBN)-The rupee weakened 13 paise to 68.51 against the US dollar in early trade at the Interbank Foreign Exchange market on Thursday, snapping its two-session gaining spree on fresh demand for the American currency from banks and importers.
Dealers attributed the rupee’s fall to the dollar’s strength against some other currencies overseas on speculation that the Federal Reserve will raise interest rates in December but a strong domestic equity market and the rise in GDP 7.3 per cent for the September quarter, capped the fall, reports The Hindu Business Line quoting PTI.
Yesterday, the rupee had continued its strong recovery for the second day, surging by 27 paise to close at 68.38 against the US currency.
Meanwhile, the benchmark BSE Sensex rose by 116.51 points or 0.43 per cent to 26,769.32 in early trade.