Rupee slumps 9 paise against dollar as demand falters

On Thursday, the rupee remained under pressure for the second straight day by falling 18 paise to end at 66.69 against the US dollar due to Fed rate hike concerns.

By: PTI | Mumbai | Updated: October 7, 2016 9:51 am
india rupee, rupee falls, rupee falls, rupee rate today, rupee against dollar today, indian rupee, rupee prices, dollar prices, india market, economy news, indian express, Rupee fell for the third consecutive day against dollar. (Representational Image)

The rupee fell for the third straight day by losing 9 paise to 66.78 against the dollar at the forex market on Friday on weakening demand as the appeal of the American currency grew with importers and banks.  The dollar firmed up against some global currencies ahead of a key US jobs report, which weighed on the rupee, dealers said.

However, a higher opening of the domestic equity market restricted the rupee’s losses, they added.

On Thursday, the rupee remained under pressure for the second straight day by falling 18 paise to end at 66.69 against the US dollar due to Fed rate hike concerns. Meanwhile, the benchmark BSE Sensex rose 49.47 points, or 0.17 per cent, to 28,155.68 in early trade today.