Rupee pares some losses, down 11 paise against dollar
Updated : May 23, 2018 12:42 PM IST
The rupee pared its initial losses, trading 11 paise lower at 68.15 against the American currency in late morning deals on sustained dollar demand from importers and banks amid higher dollar overseas.
Traders are awaiting the release of the minutes of the US Federal Reserve's early-May policy meeting later in the day.
The rupee hit a fresh 16-month low of 68.15 in morning trade as against yesterday's closing level of 68.04 per dollar at the inter-bank foreign exchange here. It slid further to 68.29 at 1030 hrs.