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Rupee makes a weak start, slips 3 paise against dollar

Forex dealers said fresh demand for the US unit and its gains against the euro and other currencies overseas ahead of a closely-watched European Central Bank meeting pulled the rupee down, but a relatively strong opening of the domestic equity market minimised the loss.

Rupee makes a weak start, slips 3 paise against dollar
Indian rupee today tumbled 3 paise to 66.71 against the US dollar after demand for the American currency from importers went up. Photo: ZeeBiz WebDesk
Written By: PTI
Updated: Thu, Oct 20, 2016
10:08 am
Mumbai, PTI
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The rupee today got off to a bumpy start as it tumbled 3 paise to 66.71 against the US dollar after demand for the American currency from importers went up.

Forex dealers said fresh demand for the US unit and its gains against the euro and other currencies overseas ahead of a closely-watched European Central Bank meeting pulled the rupee down, but a relatively strong opening of the domestic equity market minimised the loss.

Yesterday, the rupee had closed 5 paise higher at 66.68 against the US dollar on sustained selling of the American currency by banks and exporters.

Meanwhile, the benchmark BSE Sensex traded higher by 216.80 points, or 0.77 per cent, at 28,201.17 in early trade today.