Continuing its slide for the third straight day, the rupee weakened by another 3 paise to 68.97 against the US dollar in early trade due to increased demand for the American currency from importers.
According to a forex dealer, the dollar’s gains against other currencies ahead of a meeting between US President Donald Trump and European Commission President Jean-Claude Juncker, also impacted the rupee sentiment. However, a firm domestic equity market capped the rupee’s losses.
Yesterday, the rupee had closed weak by 8 paise at 68.94 against the US currency due to sustained dollar demand from importers even as domestic equities hit a record high. Meanwhile, the benchmark BSE Sensex rose 102.97 points, or 0.27 per cent, to an all-time high of 36,928.06 in early trade.