Rupee Continues Downfall Against US Dollar

Continuing its decline for four consecutive sessions, the Indian rupee went down by further 13 paise to reach Rs 63.70 against the US dollar in morning trade today.

According to dealers, the US dollar’s improved performance against other foreign currencies and an increase in the American currency’s year-end demand from importers led to this fall. However, a higher opening in the domestic equity market helped contain the losses.

It is pertinent to mention here that rupee had declined by 6 paise to end at Rs 63.57 against the US dollar in Friday’s trade.

Meanwhile, the benchmark Bombay Stock Exchange (BSE) Sensex jumped by 265.47 points (0.97%) to reach 27,507.25 in early trade.