Rupee dips 5 paise against Dollar in opening trade

The Rupee on Wednesday opened lower with a dip of five paise at 67.91 against the US Dollar at the interbank Forex market.

Rising trend in the Dollar against other currencies overseas weighed on the domestic unit.

Experts say the Rupee fell owing to sustained foreign fund outflows, more demand for the US currency from importers and banks amid a lower opening in the domestic equity market.

On Tuesday, according to provisional data, foreign portfolio investors (FPIs) sold shares worth a net Rs 407.33 crore. And, the rupee fell 43 paise to end at 67.86 due to heavy month-end Dollar demand from importers.

Meanwhile, the benchmark BSE Sensex fell 214.13 points, or 0.61 per cent, to 34,735.11 in opening trade on Wednesday.