Rupee closes weaker Against Dollar, Falls To 67.50


Mumbai : The Indian rupee on Tuesday weakened against the US dollar for the second consecutive day, closing 0.25% lower. The impending exit of Reserve Bank of India (RBI) governor Raghuram Rajan, likelihood of Britain choosing to leave the European Union and upcoming redemptions of foreign currency non-resident deposits are seen as negative for the rupee.

Besides, a weak opening in the domestic equity market weighed on the domestic unit, dealers said. However, weakness in the US dollar against major world currencies in the global market, limited the rupee fall. The domestic unit yesterday ended lower by 23 paise to close at an over two-week low of 67.31 on heavy bouts of dollar demand amid uncertainty in the wake of RBI Governor Raghuram Rajan's decision against pursuing a second stint.

Meanwhile, the benchmark BSE Sensex fell 82.52 points, or 0.31 per cent, to 26,784.40 in early trade today.