Rupee falls by 16 paise to 67.38 vs USD in late morning trade

Tuesday, Feb 7, 2017,9:44 IST By joji A A A

Mumbai | The rupee slipped further by 16 paise to 67.38 against the US currency in late morning deals following continued bouts of dollar demand from banks and importers amidst volatile domestic equities.

Earlier, the rupee opened lower by 7 paise at 67.29 per dollar against yesterday’s level of 67.22 per dollar at the Interbank Foreign Exchange (Forex) Market.

The domestic unit hovered between 67.3875 and 67.2850 per dollar during morning deals before quoting at 67.38 per dollar at 1030 hrs.

Overseas, the dollar stood near a 10-week low against the yen early today as investors sought refuge in the safe- haven Japanese currency, while the euro languished on French political woes.

Meanwhile, the benchmark BSE sensex was down by 46 points or 0.16 percent to 28,393.34 at 1030hrs.