Rupee drops by 13 paise to 64.18 on foreign fund outflows

Mumbai, Sept 5:  

The rupee dropped by 13 paise to 64.18 against the dollar at the interbank forex market today amid sustained foreign fund outflows.

The rupee opened at 64.10 per dollar against the last close of 64.05 per dollar. It moved in a range of 64.08 per dollar and 64.18 per dollar in the morning deals.

Traders said fresh demand for the US currency from importers and the dollar’s recovery against some currencies overseas weighed on the rupee. Foreign investors had pulled out around Rs 683 crore from debt and equity markets yesterday amid geopolitical tensions.

Yesterday, the rupee closed with a marginal 3 paise loss at 64.05 against the American currency. Meanwhile, the benchmark BSE Sensex recovered by 78.72 points or 0.24 per cent to 31,780.97 in early trade.

(This article was published on September 5, 2017)

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