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Indian rupee drops 8 paisa vs dollar in early morning

Indian rupee drops 8 paisa vs dollar in early morning

MUMBAI: The rupee declined by 8 paisa to 61.96 against the US dollar in early trade on Wednesday at the Interbank Foreign Exchange because of dollar’s growth against its overseas opponents.
The rupee declined by 8paisa to 61.96 against the US dollar on Wednesday morning at the Interbank Foreign Exchanges
Forex dealers said besides the dollar’s gains against other currencies, fresh demand for the American unit from importers and a lower opening in the domestic equity market kept pressure on the rupee.
The Indian rupee had weakened by 5 paise to end at 61.88 against the American currency yesterday on sustained demand from importers amid a broader sell-off in equities