Rupee softens 6 paise against dollar

Mumbai: The rupee shed 6 paise to 67.48 against the US dollar in early trade today at the Interbank Foreign Exchange following fresh demand for the American currency from banks and importers amid dismal output data for October.

Moreover, the US dollar’s gains against some currencies overseas put the rupee on the backfoot, forex dealers said.

However, a higher opening of the domestic equity market capped the rupee’s fall.

The rupee had retreated from near one-month high by falling 6 paise to close at 67.42 against the US currency on Friday as sentiment turned bearish ahead of Fed rate decision.

Forex market had remained closed yesterday for Eid-e-Milad.

Meanwhile, the benchmark BSE Sensex rose by 96.57 points, or 0.36 per cent, to 26,611.81 in early trade.

PTI