The rupee weakened by 8 paise to 65.15 against the U.S. dollar in early trade on Wednesday at the Interbank Foreign Exchange on increased 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 and unabated foreign fund outflows.
Domestic stocks soaring to record highs after the government’s unprecedented ₹2.11 lakh crore bank recapitalisation road map capped the fall, they added.
On October 24, the rupee had shed 5 paise to close at 65.07 against the dollar.
The benchmark BSE Sensex zoomed by 509.99 points, or 1.56% to trade at an all-time high of 33,117.33 and the NSE Nifty rallied 132.85 points, or 1.30% to quote at a fresh life-time high of 10,340.55.
