On Thursday, the rupee declined by 12 paise to 53.94 against the dollar at the Interbank Foreign Exchange market in early trade on fresh demand for the American currency from banks.
Moreover, Forex dealers said fresh demand for the U.S. dollar from banks mainly put pressure on the rupee but a higher opening in the equity market restricted the loss.
In fact, that the rupee had edged up by just three paise to close at 53.82 against the US dollar amid mild dollar selling by exporters in yesterday’s trade.
(AW:Samrat Biswas)
