Rupee weakens to 63.70 due to strong dollar…

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Falling for the fourth straight session, the rupee weakened by another 13 paise to 63.70 against the US dollar in early trade at the Interbank Foreign Exchange market today due to appreciation of the greenback against other currencies overseas.

Dealers attributed this fall to dollar’s gains against other currencies overseas and year-end demand from importers for the American currency but a higher opening in the domestic equity market capped the losses. The rupee had slipped 6 paise to close at 63.57 against the dollar in Friday’s trade.

Meanwhile, the benchmark BSE Sensex rose 265.47 points or 0.97 per cent at 27,507.25 in early trade.

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