February 13, 2017 10:10:18 am
The rupee was trading lower by 10 paise at 66.98 against the US dollar in early trade today after the American currency gained strength overseas. Besides, industrial production contracting to four-month low of 0.4 per cent in December too weighed on the rupee.
Watch What Else is Making News
Forex dealers said increased demand for the US currency from importers and dollar’s gain against other currencies overseas put pressure on the rupee. They said, however, a higher opening in the domestic equity market capped the losses.
On Friday, the rupee had ended marginally lower by 3 paise at 66.88 against the dollar because of stray demand coming in from importers and banks for the American currency. Meanwhile, the benchmark BSE Sensex surged by 124.55 points, or 0.43 per cent, to 28,458.80 in the opening trade on Monday.
📣 The Indian Express is now on Telegram. Click here to join our channel (@indianexpress) and stay updated with the latest headlines
- The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.