Friday, September 17, 2021
HomeBusinessRupee weakens further, down 31 paise against dollar

Rupee weakens further, down 31 paise against dollar

The rupee weakened further to trade 31 paise lower at 67.74 against the greenback in late morning deals following sustained bouts of month-end dollar demand from importers and banks.

The domestic unit resumed lower at 67.62 as against yesterday’s closing level of 67.43 per dollar at the inter-bank foreign exchange here.

It slid further to 67.75 before quoting at 67.74 at 1030 hrs, hovering between 67.50 and 67.75 during morning deals.

“Continued foreign capital outflows and month-end dollar demand weighed on rupee sentiment,” a dealer said.

Yesterday, the rupee had surged by 35 paise to end at a new two-week high of 67.43 against the US dollar after a surprise crash in crude prices quickly faded near-term trade deficit and inflation worries.

Foreign portfolio investors (FPIs) sold shares worth a net Rs 795.06 crore yesterday, provisional data showed.

Meanwhile, the 30-share BSE Sensex trading up by 24.75 points, or 0.07 per cent, at 35,190.23 at 1055 hrs.

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