Continuing its slide for the fourth straight day, the rupee again breached the 63-mark against the dollar today on strong dollar demand from importers and a lower opening in the domestic equity market.
At the Interbank Foreign Exchange (Forex) market, the local currency opened sharply lower at 63 a dollar from its previous close of 62.47 and breached the 63 level to trade at 63.07.
Forex dealers said besides sustained demand for the US currency from importers and capital outflows, dollar’s strength against other overseas currencies on upbeat US jobs data weighed on the domestic currency.
The rupee had depreciated by six paise to close at an almost six-week low of 62.47 against the dollar in the previous session.
Meanwhile, the BSE Sensex dropped 183.74 points or 0.88 per cent to 20,482.41 in early trade today.
At the Interbank Foreign Exchange (Forex) market, the local currency opened sharply lower at 63 a dollar from its previous close of 62.47 and breached the 63 level to trade at 63.07.
Forex dealers said besides sustained demand for the US currency from importers and capital outflows, dollar’s strength against other overseas currencies on upbeat US jobs data weighed on the domestic currency.
The rupee had depreciated by six paise to close at an almost six-week low of 62.47 against the dollar in the previous session.
Meanwhile, the BSE Sensex dropped 183.74 points or 0.88 per cent to 20,482.41 in early trade today.
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