The rupee weakened by 24 paise to trade at a 30-month low of 68.62 against the dollar in early trade on Wednesday on sustained foreign fund outflows amid increased demand for the U.S. currency from importers.Besides, dollar’s strength against some other currencies overseas also weighed on the rupee, dealers said.

The rupee had tumbled by 31 paise to close at a fresh 29-month low of 68.38 a dollar on Tuesday’s trade on renewed demand for U.S. currency from banks and importers in view of strong foreign capital outflows.Sharp fall in domestic stock market also affected the rupee sentiment.

Source : thehindu.com

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