Markets

Rupee down 7 paise against dollar

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The rupee depreciated by another 7 paise to 61.90 against the US dollar in early trade on Tuesday at the Interbank Foreign Exchange on sustained demand for the American currency from banks and importers amid a weak opening in the equity market.

Besides, widening current account deficit to USD 10.1 billion or 2.1 per cent of GDP in July-September quarter of this fiscal, up from 1.2 per cent a year-ago, also weighed on the trading sentiment.

Forex dealers said besides dollar’s gains against other currencies in the global markets, increased demand for the American unit from importers and a lower opening in the domestic equities also contributed to rupee’s fall.

The rupee had fell from its two-week high and ended 6 paise down at 61.83 against the greenback in yesterday’s trade on fresh dollar demand from importers.

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Printable version | Jan 28, 2020 6:56:57 AM | https://www.thehindu.com/business/markets/rupee-down-7-paise-against-dollar/article6675400.ece

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