Thursday, 1 February 2018

The Rupee Weakened By 9 Paise To 63.67 Against The US Dollar

The rupee weakened by 9 paise to 63.67 against the US dollar in opening trade at the interbank foreign exchange market ahead of the budget today.

A strong dollar in overseas markets weighed on the Indian currency, a currency dealer said. Yesterday, the rupee had ended 2 paise higher at 63.58 against the US dollar.

The global research firm believes that the valuation right now in the market is rich on a fundamental basis. Further, it said that it is tough to argue for a correction, given the fund flows as well as global rally.

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