Indian rupee slumps 8 paise to 67.35 against dollar

The dollar firmed up against some global currencies, which weighed on the rupee, dealers said.

Indian Rupee vs US dollar
Indian rupee vs US dollar: Domestic currency also got some support on speculation that slowing inflation will allow new Reserve Bank of India (RBI) governor Urjit Patel to cut interest rates at next week’s monetary policy review. (Reuters)

The Indian rupee lost some ground as it weakened by 8 paise to 67.35 against the dollar at the forex market today following fresh demand for the American unit from importers and banks amid a lower opening in domestic equities.

The dollar firmed up against some global currencies, which weighed on the rupee, dealers said.

Yesterday, the local currency rose 5 paise to close at a two-week high of 67.27 on sustained selling of dollars by banks and exporters on the back of a higher opening in the domestic stock market.

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Meanwhile, the benchmark BSE Sensex fell 33.44 points, or 0.12 per cent, to 27,245.32 in early trade.

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First published on: 05-07-2016 at 09:51 IST
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