Rupee dips further 32 paise vs dollar in morning deals

The rupee continued its downward march for the second day on Friday and was quoting lower by 32 paise at 63.82 against the Greenback in late morning deals on dollar demand from importers and its firm value overseas.

The rupee continued its downward march for the second day on Friday and was quoting lower by 32 paise at 63.82 against the Greenback in late morning deals on dollar demand from importers and its firm value overseas.

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At the Interbank Foreign Exchange (forex) market, the domestic unit commenced lower at 63.75 a dollar from overnight close of 63.50 and moved in a range of 63.70 and 64.18 before recovering some ground to trade at 63.82 per dollar at 10:30 hours. It revealed a fall of 32 paise or 0.50%.

The Indian benchmark BSE-30 share index Sensex was up by 32.07 points or 0.16 per cent at 1015 hours on the back of rise in the Index of Industrial Production (IIP) and fall in retail inflation measured by Consumer Price Index (CPI).

The dollar index was trading up by 0.12 per cent against its six major global rivals ahead of retail sales data before the all-important Federal Reserve meeting next week.

Factory output measured in terms of the IIP recorded a growth of 2.6 per cent in July while retail inflation measured on the CPI eased slightly to 9.52 per cent in August.