Rupee softens 6 paise against US dollar

TIL Desk/Business/Mumbai/The rupee weakened by 6 paise to 64.34 against the US dollar in early trade today on fresh demand for the American currency from banks and importers.

Besides, dollar’s strength against other currencies overseas also weighed on the rupee, but a higher opening of the domestic equity market capped the losses.

On Friday, the rupee continued its stellar rally against the dollar, surging 24 paise to end at a fresh 20-month high of 64.28 amid escalating geo-political trouble involving the US and Russia.

Meanwhile, the benchmark BSE Sensex rebounded by 124.71 points, or 0.41 per cent, to 29,831.32 in early trade.