Falling for the fourth straight day, the rupee weakened on Tuesday by another 11 paise to 60.64 against the U.S. currency in early trade at the Interbank Foreign Exchange market due to dollar’s gains against other rivals overseas, according to Indian news agency PTI.
Forex dealers said besides dollar’s gains against other currencies, increased demand for the American unit from importers put pressure on the rupee, but a higher opening in the domestic equity market limited the losses.