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Rupee declines 7 paise, hits fresh 1-week low against US dollar
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Rupee declines 7 paise, hits fresh 1-week low against US dollar
Aug 3, 2018 12:47 AM

Continuing its fall for the second day, the rupee weakened by another 7 paise to trade at fresh one-week low of 68.77 against the US dollar in early session on Friday due to increased demand for the American currency from importers amid sustained foreign capital outflows.

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The dollar's gains against other currencies overseas on worries over escalating trade tensions between the US and China, also impacted the rupee sentiment, a currency dealer said.

They said, a higher opening of the domestic equity market, capped the rupee's losses.

Yesterday, the rupee had dropped by 27 paise to close at a one-week low of 68.70 against the US dollar.

Meanwhile, the benchmark Sensex recovered 223.64 points, or 0.60 per cent, to 37,388.80 in early trade.

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