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Rupee Weakens to 64.44 on FII Outflows Dollar Demand

Date 17-Apr-2017
Subject Rupee Weakens to 64.44 on FII Outflows Dollar Demand

MUMBAI, APRIL 17: The rupee was trading lower by 3 paise at 64.44 against the US dollar in early trade on foreign fund outflows amid increased demand for the American currency from importers and a weak domestic equity market.

However, dollar's weakness against major global currencies capped the losses, forex dealers said.

The domestic unit had closed higher by 26 paise at 64.41 in the previous session on Thursday on account of fresh selling of the American currency by exporters, besides greenback's weakness against other currencies overseas.

Forex market had remained shut on Friday on account of ’Dr Babasaheb Ambedkar Jayanti’ and ‘Good Friday’

Meanwhile, the benchmark BSE Sensex shed 24.78 points or 0.08 per cent to 29,436.67 in early deals.

Source: Thehindubusinessline.com

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