Rupee drops by 11 paise against US dollar in early trade

TIL Desk/Business/Mumbai/ The rupee on Monday dropped by 11 paise to 64.43 against the US currency in the opening session due to fresh dollar demand from importers.

The rupee opened lower at the interbank foreign exchange market and slid by 11 paise to 64.43 per dollar in early trade. It had closed at 64.32 per dollar on Friday.

The US dollar sliding against other currencies overseas and a higher opening in domestic equities limited the rupee’s fall, dealers said.

The benchmark BSE Sensex surged by 107.02 points to touch all-time high of 32,135.91 points in early session on Monday as oil, banking and IT stocks gained.