Indian rupee drops to 19.03 vs UAE dirham

The Indian rupee on Monday declined to 69.61 per dollar during the day after opening at a record low of 69.47.

Against the UAE dirham, the rupee was trading at 19.03 at 3:00pm (UAE time), according to XE.com.

The Indian currency fell 66 paise in the early trade on Monday against its previous close 68.83 against the greenback.

On Friday, the rupee had lost 15 paise to end at 68.83 against the resurgent dollar. Industrial output recorded a growth of 7 per cent in June on account of higher output in mining, manufacturing and power generation segments, according to data released by the Central Statistics Office (CSO).

Forex dealers said selling of the greenback by banks and exporters supported the rupee. However, dollar's strength against other currencies overseas and lower opening in the domestic equity markets capped the gains.

Meanwhile, the benchmark Sensex fell 284.27 points, or 0.75 per cent, to 37,584.96 in opening trade today.

(With inputs from PTI)