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Rupee weakens to 68

Rupee weakens to 68.84 on dollar buying, foreign fund outflows

Tue July 10 2018


The rupee slipped 12 paise to 68.84 against the US dollar in early trade due to fresh dollar buying by importers amid sustained foreign fund outflows.


Forex dealers said the dollar’s strength against a basket of some currencies overseas too weighed on the rupee, but a firm domestic equity market capped the rupee’s decline.


Yesterday, the local currency had ended strong by 15 paise at 68.72 due to sustained dollar selling by exporters and banks, dollar’s weakness against other currencies overseas and a stellar rally in local equity market.


Meanwhile, the benchmark BSE Sensex climbed 161.08 points, or 0.44 per cent, to 36,095.80 in early trade. According to provisional data issued by stock exchanges, foreign portfolio investors (FPIs) had sold shares worth Rs 569.91 crore yesterday.



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