Rupee at fresh two-month low, down 17 paise to 63.88 vs dollar

Published: 13th November 2013 10:42 AM  |   Last Updated: 13th November 2013 10:42 AM   |  A+A-


Continuing its slide for the sixth straight day, the rupee today lost 17 paise to trade at a fresh two-month low of 63.88 in early trade on strong dollar demand from importers amid weak local equities.

At the Interbank Foreign Exchange (Forex) market, the local currency opened lower at 63.88 a dollar from its previous close of 63.71.

Meanwhile, the retail inflation measured in terms of consumer price index (CPI) rose to 10.09 per cent in October, entering double digits after seven months. The industrial production grew by two per cent in September, mainly on account of better performance by power and mining sectors.

Forex dealers said besides sustained demand for the US currency from importers and a lower opening in the domestic equity market also put pressure on the rupee but dollar's weakness against euro in the global markets capped the fall.

The rupee had depreciated by 47 paise to close at 63.71 against the dollar in the previous session.

Meanwhile, the BSE benchmark Sensex fell by 53.97 points, or 0.27 per cent, to 20,227.94 in early trade today.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp