Continuing its falling streak for the sixth straight day, the rupee depreciated by 11 paise to trade...
Continuing its falling streak for the sixth straight day, the rupee depreciated by 11 paise to trade at almost nine-month low of 62.07 against the dollar in early trade today at the Interbank Foreign Exchange due to sustained demand for the American currency from importers.
Besides, slowdown in capital inflows and weakness in the euro and the yen against the US dollar overseas also put pressure on the local unit but a higher opening in the domestic equity market limited the fall, forex dealers said.
The rupee had lost 22 paise to close at 8-1/2 month low of 61.96 against the dollar in the previous session, following sustained dollar demand from oil importers and weakness in the local stock market.
Meanwhile, the benchmark BSE Sensex recovered by 85.68 points, or 0.30 per cent, to trade at 28,118.53 in early trade today.