Mumbai: The rupee retreated from 2-1/2 year
high level to trade lower by 8 paise at 63.56 against the US
currency in opening session on some dollar buying by importers
and banks.
Besides, the dollar's gains against major global
currencies also weighed on the domestic currency.
Yesterday, the rupee closed at nearly 2-1/2 year high of
63.48, surging by 20 paise against the US dollar as the
bullish momentum continued strongly for the fourth-straight
day driven by upbeat hopes for economy.
FIIs bought shares worth Rs 522.74 crore on net basis
yesterday.
Dealers attributed the rupee's fall to fresh demand for
the US currency from importers but a higher opening in the
domestic equity markets capped the losses.
Meanwhile, the Sensex rose 158.35 points, or 0.46 per
cent, to 33,970.61 in early trade.
PTI
