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Rupee surrenders 8 paise against dollar

Tuesday, Oct 25, 2016,10:36 IST By Metrovaartha A A A

Mumbai | The rupee today lost 8 paise to 66.93 against the US dollar at the forex market in the wake of increased demand for the American unit amid foreign capital outflows.

Besides the demand from importers and banks, a stronger dollar against currencies overseas because of increased prospects a US interest rate hike and a lower opening in the domestic equity market weighed on the domestic currency, dealers said.

The rupee had closed higher by 4 paise to 66.85 yesterday on the back of fresh selling of the US dollar by exporters.

Meanwhile, the benchmark BSE Sensex fell 56.71 points, or 0.20 per cent, to 28,122.37 in early trade today.

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