Rupee loses 8 paise against the dollar

A stronger dollar against currencies overseas because of increased prospects of US interest rate hike weighed on the domestic currency.

By: PTI | Mumbai | Published:October 25, 2016 10:12 am
Rupee, value of rupee, rupee against the dollar, business news, market news, latest news, indian express The rupee had closed higher by 4 paise to 66.85 Monday on the back of fresh selling of the US dollar by exporters.

The rupee Tuesday lost 8 paise to 66.93 against the US dollar at the forex market in the wake of increased demand for the American unit amid foreign capital outflows. Besides the demand from importers and banks, a stronger dollar against currencies overseas because of increased prospects a US interest rate hike and a lower opening in the domestic equity market weighed on the domestic currency, dealers said.

Watch What Else Is Making News

The rupee had closed higher by 4 paise to 66.85 Monday on the back of fresh selling of the US dollar by exporters.

Meanwhile, the benchmark BSE Sensex fell 56.71 points, or 0.20 per cent, to 28,122.37 in early trade today.