Published on 7/11/2017 12:40:08 PM | Source: Dion Global Solutions Ltd.
Rupee slips 10 paise on fresh dollar demand
The Indian Rupee extended losing streak against the US dollar on Tuesday due to strong buying of American currency by banks and importers amid sustained outflows by foreign portfolio investors. Adding to it, weakness in the domestic equity market and rise in crude oil prices amid political upheaval in Saudi Arabia also boosted fresh demand for dollar.
At the Interbank Foreign Exchange Market, the local currency was down by 10 paise at 64.95 per dollar against a previous close of 64.85 per dollar. It touched the intra-day low of Rs 65.04 after opening at 64.79 (at 12:20 hours). Further, weakness in the equity market also dented sentiment at the local forex trade. The BSE SENSEX was trading at 33,678, down by 53.19 points or by 0.16 per cent, and the NSE Nifty was at 10,429, down by 22.8 points or by 0.22 per cent.
