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Rupee slides 14 paise against dollar to fresh 29-month low

Thursday, Jan 28, 2016,10:19 IST By metrovaartha A A A

Mumbai | Extending losses for the third session, the rupee weakened another 14 paise to a fresh 29-month low of 68.19 against the dollar in early trade Thursday following month-end demand from importers and banks amid a strengthening American currency overseas.

Forex dealers said increased demand for the dollar and a lower opening in the domestic equity market kept pressure on the rupee.

The rupee had shed 22 paise to close at a new 29-month low of 68.05 yesterday on sustained demand for the greenback from banks and importers amid a lower value overseas.

Meanwhile, the benchmark BSE Sensex fell 91.87 points, or 0.37 per cent, at 24,400.52 in early trade.