Rupee slips 12 paise against U.S. dollar

The rupee slipped 12 paise to 68.84 against the U.S. dollar in early trade on Tuesday due to fresh buying of the American currency by importers amid sustained foreign fund outflows.

Forex dealers said the dollar’s strength against a basket of some currencies overseas too weighed on the rupee, but a higher opening of the domestic equity markets limited the fall.

On Monday, the local currency had gained 15 paise against the U.S. dollar to close at 68.72 on sustained dollar selling by exporters and banks amid a stellar rally in local equities and losses in the greenback.

Meanwhile, the benchmark BSE Sensex climbed 161.08 points, or 0.44 per cent, to 36,095.80 in morning trade.

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