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Rupee extends losses for the 3rd day against dollar, down 10 paise

Rupee slipped by yet another 10 paise to 65.98 per dollar on persistent dollar demand from banks and importers in view of heavy foreign capital outflows.

Photo: Reuters Photo: Reuters

The rupee exended losses for the third consecutive day against the American currency, slipped by yet another 10 paise to 65.98 per dollar on persistent dollar demand from banks and importers in view of heavy foreign capital outflows.

Higher dollar in the overseas market also affected the market sentiment, a forex dealer said.

Foreign portfolio investors (FPIs) pumped out $147.15 millions on Tuesday, as per SEBI's data.

The Indian unit resumed lower at 66.02 per dollar as against Tuesday's closing level of 65.88 at the Interbank Foreign Exchange (Forex) market.

It slid further to 66.12 on heavy dollar demand from importers before concluding the day at 65.98, showing a loss of ten paise or 0.15 per cent.

It has dropped by 31 paise or 0.47 per cent in three days.

The domestic currency hovered in a range of 65.8950 and 66.12 per dollar during the day.

At overseas, the US dollar hit its highest in nearly three weeks versus a basket of currencies in early Asian trade, while the yen held on to broad gains made overnight as persistent worries over a slowdown in China dampened risk sentiment.

Meanwhile, the benchmark BSE Sensex rose by 171.15 points or 0.67 per cent to close at 25,822.99.