MUMBAI: The Indian rupee dropped 14 paisa to 63.49 a dollar in early trade at Interbank Foreign Exchange market today while the US dollar reinforce over the world.
Dealers said besides dollar’s gains against other currencies overseas, increased demand for the American unit from importers also put pressure on the rupee.
However, the rupee’s losses were capped as the domestic equity markets were trading firm.
Yesterday, the rupee suffered the worst single-day drop in over two weeks by falling 32 paise to end at 63.35 against the US dollar.
Meanwhile, the benchmark BSE Sensex was trading higher by 216.11 points, or 0.79 per cent, at 27,723.65.
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