The Indian Rupee has been weakened by 25 paise against dollar and falls to 66.93 in early trade at Interbank Foreign Exchnage Market on Monday. The fall of Indian Rupee has been registered for the third consecutive session now. Amid a lower opening in domestic equity marker, dollar opened strongly against some currencies overseas.
According to the Forex dealers apart from sustained demand for the American currency from importers, foreign funds outflows and dollar’s gains against other currencies overseas, was the main reasons behind the weakening of rupee.
On renewed demand for the American currency from banks and importers, on Friday, the local currency had slipped to 26 paise and and ended at 66.68, registering its biggest single-day drop in five weeks.
The benchmark BSE Sensex collected 545.94 points (1.89%) to 28,251.31 in the opening trade.
By Prajakt K.
