Rupee Weakens to 64.20 on Month End Dollar Demand

28-Apr-2017
Rupee Weakens to 64.20 on Month End Dollar Demand

MUMBAI, APRIL 28: The rupee weakened by 4 paise to 64.20 against the US dollar in early trade at the Interbank Foreign Exchange market today on increased month-end demand for the American currency from importers.

Moreover, the US dollar’s gains against other currencies overseas and a weak domestic equity market put pressure on the rupee, forex dealers said.

The rupee had eased from a 21-month high to close 5 paise lower at 64.16 against the dollar in yesterday’s trade on fresh demand for the American currency from importers.

Meanwhile, the benchmark BSE Sensex fell 82.21 points or 0.27 per cent to 29,947.53 in early trade.

Source: Thehindubusinessline.com

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