INR drops to 63.41 vs dollar

Hyderabad, Jan 5: The Indian rupee on Monday fell by 12 paise to close at 63.41 against the US dollar due to weakness in the local equities and fresh demand for dollars from importers. A strong dollar overseas also weighed on the rupee, forex dealers said. At the Interbank Foreign Exchange (Forex) market, the domestic currency started weak at 63.43 a dollar. It then touched a low of 63.50 before bouncing back to a high of 63.28 after the morning session. The rupee then fell back to settle at 63.41. This is its weakest closing since 63.67 (December 29).