Indian rupee drops further, touches 18.50 against AED

The rupee weakened by 4 paise to quote at 68.19 against the dollar and 18.50 against UAE dirham in early trade at the Interbank Foreign Exchange market today on month-end demand for the American currency from importers and banks.

The dollar was firm against major global currencies, which dampened rupee sentiment, but a higher opening of the domestic equity market capped the fall, dealers said.

Yesterday, the rupee made a modest recovery to end higher by 5 paise at 68.15 against the American greenback, and 18.48 against UAE dirham, in yet another day of extremely thin and lethargic trade.

Meanwhile, the benchmark BSE Sensex rose 105.92 points, or 0.38 per cent, to 27,481.50 in early trade.



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