Strong Dollar Pulls Rupee Down to 65.44

21-Mar-2017
Strong Dollar Pulls Rupee Down to 65.44

MUMBAI, MARCH 21: The rupee weakened by 8 paise to 65.44 against the US dollar in early trade at the Interbank Foreign Exchange market today due to appreciation of the American currency overseas.

Dealers attributed the rupee’s fall to increased demand for the US currency from importers.

However, a firm domestic equity market capped the rupee's losses.

Yesterday, the rupee had closed at a fresh 16-month high of 65.36 against the greenback in the face of dollar unwinding from exporters and banks.

Meanwhile, the benchmark Sensex recovered by 56.92 points, or 0.19 per cent, to 29,575.66 in early trade.

Source: Thehindubusinessline.com

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