The rupee ended marginally weaker on Monday due to an uptick in dollar demand from importers, dealers said. The rupee closed at 278.37 to the US dollar, compared with Friday’s close of 278.20 in the interbank market. It dropped by 0.06 per cent during the session. The rupee lost nine paisas in the open market, settling at 280.15 against the dollar. The rupee had ended at 280.06 in the previous session. Dealers claimed that slow inflows from exporter dollar sales and remittances, combined with importers’ dollar demand, put pressure on the local unit. “The rupee declines due to the seasonal increase in imports and other payments, which coincides with an increase in demand for US dollars in June,” a currency dealer said. (The News)
11/6/2024