Rupee weakens to 68.57 on month-end dollar demand

Mumbai, India (BBN)-The rupee weakened by 11 paisa to 68.57 against the dollar in early trade at the Interbank Foreign Exchange market Monday on month-end demand for the American currency from importers.
Forex dealers said a weak domestic equity market also weighed on the rupee but the dollar’s weakness against some currencies overseas capped the fall, reports The Hindu Business Line.
The rupee had rebound from a 39-month low by rising 27 paisa to 68.46 on Friday, supported by aggressive selling of the American unit by exporters and banks.
Meanwhile, the benchmark BSE Sensex fell 133.12 points or 0.50 per cent to 26,183.22 in early trade.
BBN/SS/ANS

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