Rupee hits fresh 29-month low, slides 14 paise to 68.19 Vs USD

Extending losses for the third session, the rupee weakened another 14 paise to a fresh 29-month low of 68.19 against the dollar in early trade Thursday.

PTI| Updated: Jan 28, 2016, 10:25 AM IST
Rupee hits fresh 29-month low, slides 14 paise to 68.19 Vs USD

Mumbai: Extending losses for the third session, the rupee weakened another 14 paise to a fresh 29-month low of 68.19 against the dollar in early trade Thursday following month-end demand from importers and banks amid a strengthening American currency overseas.

Forex dealers said increased demand for the dollar and a lower opening in the domestic equity market kept pressure on the rupee.

The rupee had shed 22 paise to close at a new 29-month low of 68.05 yesterday on sustained demand for the greenback from
banks and importers amid a lower value overseas.

Meanwhile, the benchmark BSE Sensex fell 91.87 points, or 0.37 percent, at 24,400.52 in early trade.