Rupee in free fall, slips 8 paise to fresh 3-month low

February 21, 2018 10:18

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. A higher opening of the equity market today, however, capped the fall. -- PTI

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