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Budget 2016: Rupee sinks 12 paise vs dollar in early trade

Representational image. AFP

Representational image. AFP

Mumbai: The rupee weakened 12 paise to quote at 68.74 against the dollar in early trade at the Interbank Foreign Exchange (forex) market today on month-end demand for the American currency from importers and banks.

A firm dollar against some global currencies overseas and a lower opening of the domestic equity market weighed on the rupee, dealers said.

The rupee bounced back by 10 paise to end at 68.62 against the American currency in Friday's trade on fag-end selling of dollars on the back of a recovery in the equity market.

Meanwhile, the benchmark BSE Sensex fell 58.60 points, or 0.25 per cent, to 23,095.70 in early trade. PTI

Published Date: Feb 29, 2016 11:01 AM | Updated Date: Feb 29, 2016 11:01 AM

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