Indian rupee today fell by 23 paise to 59.89 against the US currency in the late morning trade on month-end dollar demand from importers, coupled with firm global cues.
The rupee resumed lower at 59.74 per dollar as against the last closing level of 59.66 per dollar at the Interbank Foreign Exchange (Forex) Market and dropped further to 59.89 per dollar at 10:40 hrs.
It hovered in a range of 59.72-59.90 a dollar during the morning deals.
In the global market, the US dollar gained for the sixth day of gains today supported by data underscoring the Federal Reserve’s view of an improving economy and a likely slowdown in monetary stimulus.
Anirban Kalita is Executive Editor of News Section. His role is also involved with reviewing, editing of articles before publishing.
By academic Anirban is MTech of Computer Science & Technology.