Rupee down 5 paise, stronger equities contain fall

Forex dealers said strength in the dollar against some other currencies overseas after FBI said Hillary Clinton would not face criminal charges over her use of a private email server weighed on the rupee.

By: PTI | Mumbai | Published:November 7, 2016 10:26 am
rupee, indian rupee, rupee today, rupee against dollar, rupee prices, rupee gain, economy news, indian express, The rupee weakened by 5 paise to 66.75 against the US dollar. (Photo for representational purpose)

The rupee weakened by 5 paise to 66.75 against the US dollar in early trade on Monday at the Interbank Foreign Exchange market on fresh demand for the American currency from importers. Forex dealers said strength in the dollar against some other currencies overseas after FBI said Hillary Clinton would not face criminal charges over her use of a private email server, easing worries over her US presidential bid, weighed on the rupee but a higher opening in the domestic equities cushioned the impact.

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The rupee had recovered by five paise against the US currency to end at 66.70 in Friday’s trade on strong dollar selling by banks and exporters even as stock markets continued to decline.

The benchmark BSE Sensex soared by 317 points or 1.16 per cent to 27,591.15 in early trade today.