Rupee down 9 paise to 66.80 against dollar

Rupee down 9 paise to 66.80 against dollar

The rupee depreciated by 9 paise to 66.80 against the US dollar in early trade today due to appreciation in the American currency overseas with the Fed meeting coming within a week and US monetary policy expected to be tightened.

Dealers also attributed the rupee’s fall to fresh demand for the US currency from importers and banks and early losses in domestic stock markets.

 The rupee had appreciated by 12 paise to end at 66.71 against the greenback in yesterday’s trade following heavy dollar selling from banks and exporters.
[“source-businesstoday”]