Rupee down 7 paise against dollar in late morning deals
Updated : May 21, 2018 12:17 PM IST
The rupee pared some initial losses, to trade lower by 7 paise at 68.07 against the American currency in late morning deals on sustained dollar demand from importers and banks, despite lower local equities.
The rupee recovered from a fresh 16-month low of 67.08 against last Friday's closing level of 68.00 per dollar at the inter-bank foreign exchange here.
Later, it regained its lost ground to trade flat at 68 before falling again in late morning deals; it was trading at 68.07 per dollar at 1030 hrs.