Rupee tumbles against US dollar
Breaches 64-mark against American Greenback
The Indian rupee on Monday weakened past 64 against the dollar after local equity markets fell over 1,000 points in the last four days. The local unit opened at 64.04 per dollar. At 9.10am, the home currency was trading at 64.02, down 0.43% from its previous close of 63.76.
Furthermore, increased demand for dollar from importers and banks weighed on the local currency, forex dealers said. On Friday, the rupee closed 25 paise higher at 63.75 against the US dollar.
Since the beginning of this year, the rupee has lost 1.65%, while foreign institutional investors have bought $7.04 billion from local equity and $5.79 billion from bond markets.
The Sensex rose 0.24% or 59 points to 26,833.66 points.