Business

Rupee down 9 paise against dollar in early trade

Mumbai, July 20: The rupee weakened by 9 paise to 63.56 against the US dollar in early trade today as the American currency strengthened on expectations of interest rate hike by US Fed by the end of the year.

Besides, increased demand for the dollar from importers and a lower opening in the domestic equity market also weighed on the local currency, dealers said.

The rupee had gained four paise to close at 63.47 on Friday on fresh selling of dollars by banks and exporters.

Meanwhile, the benchmark BSE Sensex fell by 56.51 points or 0.19 per cent to 28,406.80 in early trade.

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