Rupee slumps 9 paise against dollar as demand falters

Mumbai: The rupee fell for the third straight day by losing 9 paise to 66.78 against the dollar at the forex market today on weakening demand as the appeal of the American currency grew with importers and banks.

The dollar firmed up against some global currencies ahead of a key US jobs report, which weighed on the rupee, dealers said. However, a higher opening of the domestic equity market restricted the rupee’s losses, they added.

Yesterday, the rupee remained under pressure for the second straight day by falling 18 paise to end at 66.69 against the US dollar due to Fed rate hike concerns.

Meanwhile, the benchmark BSE Sensex rose 49.47 points, or 0.17 per cent, to 28,155.68 in early trade today.

PTI