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Marginal drop in rupee

MUMBAI: The rupee remained under pressure due to weakness in Asian equity markets and closed marginally lower at 39.36/37 against the greenback amid weak dollar overseas and a slowdown in capital inflows. It closed at 39.34/35 on Monday.

In active trading at the interbank foreign exchange market, the Indian currency moved in a range of 39.33 and 39.45 after resuming weak at 39.42/44. The rupee was largely influenced by volatile movements in the domestic equity markets, forex dealers said.

Foreign institutional investors’ withdrawals, albeit in small quantity, in a last couple of days, also weighed on rupee sentiment. — PTI

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