Rupee breaks 24 paise

The rupee slipped by 24 paise to 74.10 per dollar in inter-banking currency trade today under pressure from increasing demand for the US currency at domestic levels, despite the dollar weakening against the world’s major currencies. The rupee was at 73.86 per dollar in the previous session.

Due to the fall in the stock market, it slipped 34 paise to open at Rs 74.20 per dollar in the opening trade itself. During this, due to the demand for dollars, the rupee fell to a low of Rs 74.28 per dollar.

However, after this, the rupee also improved on the strength of the stock market and it rose to the highest level of 74.08 per dollar. In the end, it fell by 24 paise to Rs 74.10 per dollar as compared to the previous day.