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Rupee loses 12 paise

MUMBAI: The Indian currency on Tuesday fell by 12 paise to close at a six-week low of 40.7450/7550 against the U.S. dollar on fresh dollar demand amid a firm dollar overseas. Capital outflows and some downward pressure on the Asian markets, including India, also weighed on the rupee.

In active trading at the inter-bank foreign exchange market, the rupee opened slightly lower at 40.64/66 against Monday’s close of 40.6250/6350. It later tumbled further to settle at a six-week low of 40.7450/7550. It gyrated in a range of 40.62 and 40.77. Earlier, the rupee had closed at 40.83/84 a dollar on June 28. — PTI

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