Rupee Falls for 6th Session, Down 4 Paise Against Dollar

Forex dealers said, sustained demand for the American currency from importers and dollar strength against other currencies overseas, bolstered by rising US bond yields, weighed on the domestic unit.

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Mumbai: Falling for the sixth consecutive session, the rupee weakened by 4 paise to 66.16 against the US dollar in opening trade at the interbank foreign exchange market on Monday, amid foreign capital outflows.

Forex dealers said, sustained demand for the American currency from importers and dollar strength against other currencies overseas, bolstered by rising US bond yields, weighed on the domestic unit.

On Friday, the rupee had crashed below the key 66 level to close at a 13-month low of 66.12 against the US currency, hit by a resurgent dollar, firming crude prices and a more hawkish tone of the Reserve Bank.

Meanwhile, the benchmark BSE Sensex rose by 78.11 points, or 0.22 per cent, to 34,493.69 in early trade.

On a net basis, foreign portfolio investors (FPIs) sold shares worth a net Rs 21.02 crore on Friday, provisional data showed.

Source news18.com
Via news18.com

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