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As greenback strengthens overseas, rupee slips 5 p to 68.87 against dollar

Press Trust of India/Mumbai 11 Jul 18 | 10:04 AM

Extending losses for the second session, the rupee weakened by 5 paise to trade at 68.87 against the US dollar in early trade on Wednesday on sustained capital outflows as the greenback strengthened overseas.

Forex dealers said besides increased demand for the US currency from importers, persistent outflows by foreign funds and the dollar's strength against some other currencies overseas, an escalating trade spat between the US and China also weighed on the rupee.

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On Tuesday, the rupee ended lower by 10 paise to close at 68.82 against the US currency due to fresh buying of the dollar by importers after the greenback rebounded in global markets.

ALSO READ: Invest in international funds to minimise impact of rupee's depreciation

Meanwhile, the benchmark BSE Sensex opened 59.64 points higher, or 0.16 per cent, at 36,299.26, but soon turned choppy.

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Sensex

Company Price Gain (%)
Sun Pharma.Inds.559.902.72
Infosys1,348.352.42
Reliance Inds.1,128.552.23
ICICI Bank266.001.84
Axis Bank534.451.36

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