Rupee falls by 14 paise to fresh 29-month low of 68.19 against dollar

The rupee extended losses for the third session as it dropped by 14 paise of 68.19 against the dollar in Thursday’s early trade.

The rupee extended losses for the third session as it dropped by 14 paise of 68.19 against the dollar in Thursday’s early trade. The fresh 29-month low was hit following month-end demand from importers and banks amid a strengthening American currency overseas.

The rupee extended losses for the third session as it dropped by 14 paise of 68.19 against the dollar in Thursday’s early trade. (Reuters File)

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 on Wednesday 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%, at 24,400.52 in early trade.