Rupee faces heat from rising dollar, down 10 paise

Rupee faces heat from rising dollar, down 10 paise
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Mumbai: The rupee gave up 10 paise at 64.18 against the dollar on Wednesday, facing heat from a rising dollar overseas.

The US currency held on to its advantage because of unabated month-end demand from importers and banks amid foreign capital outflows.

The dollar was firm against a few global currencies, but the strength in domestic equities came as a buffer for the rupee losses, analysts said.

In the opening session, the domestic unit fell 10 paise at 64.18.

On Tuesday, it had ended lower by 3 paise at 64.08 in a quiet trade.

The benchmark BSE Sensex went up 76.71 points, or 0.22 per cent, to scale yet another new peak of 34,087.32 in early session on Wednesday.

PTI