Mumbai, Apr 29 (PTI): The rupee recovered by 8 paise to 60.57 against the dollar…
Mumbai(PTI): The rupee slipped below the 63-mark by falling 51 paise to trade at a fresh 11-month low of 63.45 against the US dollar in early trade today on the Interbank Foreign Exchange due to heavy dollar demand from importers amid falling crude oil prices.
Forex dealers said besides continued demand for the American currency from importers, increased capital outflows by foreign funds also kept pressure on the rupee.
The domestic currency had lost 65 paise to close at nearly 11-month low of 62.94 against the US dollar in yesterday’s trade following heavy dollar demand from importers.
Meanwhile, the BSE benchmark Sensex declined by 273.05 points, or 1.00%, to 27,046.51.