Rupee Declined By 18 Paise To U.s Dollar

The rupee declined by 18 paise to 63.62 against the U.s currency in early trade today at the International bank Foreign Exchange due to the dollar’s gain against other currencies overseas.

Forex dealers said besides dollar strengthening against other currencies overseas, fresh demand for the American unit from importers and a lower opening in the domestic equity market put pressure on the rupee.and it is a burden to import the goods.

The domestic currency had gained seven paise to end at two-month high of 63.44 against the green back on Friday.