Mumbai: Extending its losses for the third session, the rupee weakened by 8
paise to trade at fresh
3-month low of 64.87 against the US dollar in opening trade ahead of
RBI's minutes for the latest policy meeting due later today.
Besides heavy demand for the American currency from importers,
persistent outflows by foreign funds and the dollar's strength against
other currencies overseas weighed on the domestic unit, forex dealers
said.
On a net basis, foreign investors withdrew Rs 850.35 crore
yesterday, as per provisional data released by the stock exchanges.
PTI