The rupee lay low for the second session as it weakened 10 paise to 66.93 against the dollar today as the latter rose overseas amid a lower opening in domestic stocks. Sustained demand for the American currency from importers was also at work.
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Dealers said the dollar’s renewed strength against other currencies overseas came after a preliminary survey showed key US services expanded in October, which reinforced expectations that the Federal Reserve will lift rates before the end of the year. This mainly pushed down the rupee.
Yesterday, the rupee had ended almost flat at 66.83, a marginal 1 paisa drop against the American currency, amid month-end dollar demand from importers.
Meanwhile, the benchmark BSE Sensex fell 103.69 points, or 0.37 per cent, to 27,732.82 in early trade.