Rupee down 7 paise against dollar in morning trade

Mumbai, Jul 14: The rupee fell by seven paise to 60.00 against the American currency in morning trade on fresh dollar demand from banks and importers amid weak equity markets. Fresh capital outflows from foreign funds affected the value of the rupee against the dollar, a forex dealer said.

The rupee resumed lower at 59.95 as against the last weekend’s level of 59.93 per dollar at the Interbank Foreign Exchange (Forex) market and moved in a range of 59.90 and 60.01 per dollar before quoting at 60.00 at 1000 hours.

Meanwhile, the benchmark BSE Sensex continued to decline and was quoted below 25,000-level at 24,991.69 at 1000 hours, showing a loss of 32.66 points, or 0.13 per cent, from its last weekend’s level.