The Rupee Weakened 12 Paise To Trade At 63.71 Against The US Dollar In Morning

The rupee weakened 12 paise to trade at 63.71 against the US dollar in morning session at the Interbank Foreign Exchange on increased demand for the American currency from banks and importers.

Foreign fund outflows and rising crude oil prices also weighed on the rupee sentiment. Crude oil prices were ruling at around three-year high levels, putting pressure on the rupee as India is a major oil importer.

Yesterday, the rupee had bounced back to end higher by 11 paise at 63.60 against the US currency on bouts of dollar selling by exporters and corporates.

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