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Rupee weakens again, drops by 75 paise against dollar

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Rupee weakens again, drops by 75 paise against dollar
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Mumbai: The rupee Friday fell by 75 paise to 67.30 against the dollar in early trade, after Thursday's strong recovery, at the Interbank Foreign Exchange market on month-end dollar demand from importers amid strengthening of the US currency overseas.

Forex dealers said besides dollar gaining against other currencies in the global markets on upbeat US economic growth data, a lower opening in the domestic equity market also put pressure on the rupee.

The rupee had gained 225 paise to 66.55 against the dollar, the most in at least 15 years in yesterday's trade, after the Reserve Bank of India eased pressure in the currency market by starting a facility for state-run oil refiners to buy foreign exchange.

Meanwhile, the BSE benchmark Sensex fell by 71.68 points, or 0.39 per cent, to 18,329.46 in early trade today.

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