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The rupee declined by 11 paise to a fresh three-month low of 63.43 against the US dollar in early trade today at the Interbank Foreign Exchange on renewed demand for the American currency from banks and importers amid foreign capital outflows in the equity market.
Besides, a lower opening in the domestic equity market weighed on the local currency but the dollar’s weakness against other currencies overseas capped the rupee’s losses, forex dealers said.
The rupee had plummeted to over a three-month low of 63.32 by losing 50 paise against the US dollar in yesterday’s trade on renewed demand for the American currency from banks and importers amid foreign capital outflows in the equity market.
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