Wednesday , August 15 2018
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Rupee Weakens To 64.83 Against Dollar

Mumbai: The rupee depreciated by 4 paise to 64.83 against the US dollar in opening trade on Tuesday at the forex market due to increased demand for the US currency from importers amid sustained foreign funds outflow.

However, a weak dollar in global markets helped the rupee limit its losses, dealers said.

Asian currencies were trading lower as investors look fro cues from Federal Reserve Chairman Jerome Powell’s first public comments at the House Financial Services Committee on Tuesday to discuss the US central bank’s Semi-Annual Monetary Policy Report and the state of the economy.

On Monday, the rupee had lost 6 paise to end at 64.79 against the US currency due to fag-end dollar demand from importers and corporates.

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