Rupee falls 10 paise against dollar on weak GDP data

The Indian economy grew at the slowest pace in last six quarters at 7.1% in the April-June period of current fiscal mainly on  subdued  performance of mining, construction and farm sectors.

Rupee falls 10 paise against dollar on weak GDP data
A picture of Mahatma Gandhi on a Rs 500 bill. Photo: Pixabay
By PTI
Updated: Thu, Sep 01, 2016
09:58 am
Mumbai, PTI
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Rupee recovers by 7 paise to 67.12 against dollar in early trade Rupee recovers by 7 paise to 67.12 against dollar in early trade

The rupee depreciated 10 paise to 67.06 against the dollar in early trade on Thursday on fresh demand for the US currency from importers amid weak growth data for April-June quarter.

The Indian economy grew at the slowest pace in last six quarters at 7.1% in the April-June period of current fiscal mainly on subdued performance of mining, construction and farm sectors.

Dealers attributed the rupee's fall to fresh demand for the US currency from importers but a higher opening in the domestic equity markets and dollar's weakness against some currencies overseas capped the losses.

The rupee had gained 6 paise to close at 66.96 per dollar yesterday due to sustained dollar selling from exporters amid weak overseas tone.

The benchmark BSE Sensex advanced by 66.36 points or 0.23% to 28,518.53 in early trade today before falling 24.34 points.