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Rupee drops 7 paise against dollar in early trade

A higher opening in the domestic equity market capped the rupee losses, forex dealers said.

Published: 11th January 2017 10:21 AM  |   Last Updated: 11th January 2017 10:21 AM   |  A+A-

A cashier displays the new 2000 Indian rupee banknotes inside a bank in Jammu, November 15, 2016. (Photo | Reuters)

A cashier displays the new 2000 Indian rupee banknotes inside a bank in Jammu, November 15, 2016. (Photo | Reuters)

By PTI

MUMBAI: The rupee was trading lower by 7 paise at 68.25 against the American currency in early trade today after the dollar gained strength overseas.

Forex dealers said increased demand for the US currency from importers and dollar's gains against other currencies overseas put pressure on the rupee.

They said, however, a higher opening in the domestic equity market capped the rupee losses.

Yesterday, the rupee had ended 3 paise higher at 68.18 against the American currency in a range bound trade amid weak dollar overseas.

Meanwhile, the benchmark BSE Sensex recaptured the 27,000-mark by surging 151.01 points, or 0.56 per cent, to 27,050.57 in the opening trade today



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