MUMBAI: On Tuesday the Indian Rupee edged inferior by 3 paise to 66.87 next to the dollar in early buy and sell on fresh buying of the American currency by importers forward of RBI policy. Forex dealers has also further conveyed that strength in the dollar against some other currencies overseas and a weak trend in the domestic equity market in early buy and sell also weighed on the rupee.
Domestic equity markets opened strong but soon turned flat ahead of Reserve Bank of India monetary policy review meet slated later in the day, which couldn’t help rupee’s movement. On Monday, the local currency concluded seven paise inferior at 66.84 on fresh dollar demand from banks and importers on the back of strong dollar in overseas markets.
For now, the benchmark BSE Sensex was buying and selling 55.20 points, or 0.20 per cent, downward at 28,127.37 in near the beginning buy and sell. US dollar’s strengthening against other emerging currencies also contributed to rupee’s fall. The American currency increase on developing hopes that US Federal Reserve could increase interest rates afterward this year.