Indian rupee sheds to 64.61 on fresh US dollar demand

Hindu Business Line file photo

Mumbai, India (BBN) – The Indian rupee shed 11 paisa to 64.61 against the US dollar in early trade due to fresh demand for the American currency from banks and importers.
Moreover, the US dollar’s gains against some currencies overseas put the rupee on backfoot, forex dealers said, reports The Hindu Business Line quoting PTI.
However, a higher opening of the domestic equity market capped the rupee’s fall.
Yesterday, the rupee had recovered some of the lost ground and ended higher 6 paisa at 64.50 against the US dollar amid mild selling of the American currency by exporters.
Meanwhile, the benchmark BSE Sensex rose 50.47 points or 0.16 per cent to 29,838.82 in early trade.
BBN/SK/AD

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