Rupee hits a near two-year low, breaches 64-level mark

The Indian Rupee has breached Rs 64 to a dollar-level mark in intra-day trading on April 7. 

At 2.16 pm, rupee was trading at Rs 64.19, down nearly Re 0.60 to a dollar. This is the lowest point for the rupee against the dollar in the past 20 months. 

Earlier in the day, extending its slide for the fifth straight day today, the rupee weakened by another 34 paise to 63.88 against the dollar in early trade on sustained capital outflows amid a weakening trend in equities.

Besides, increased demand for dollar from importers and banks weighed on the local currency, forex dealers said.

The rupee had dipped by 10 paise to close at one-week low of 63.54 against the US dollar in yesterday's trade.

Meanwhile, the benchmark BSE Sensex fell further by 146.81 points or 0.54 per cent at 26,570.56 in early trade today.

(with agencies)