Comments
Snapping its two—day rising streak, the rupee today slipped by 5 paise to close at 63.57 per dollar on fresh demand for the American currency from banks and importers amid sharp fall in the domestic equity market.
The rupee resumed lower at 63.62 as against the last weekend’s level of 63.52 at the Interbank Foreign Exchange (forex) market and dropped further to 63.67 before ending at 63.57 per dollar, disclosing a loss of five paise or 0.08 per cent.
It had gained by 30 paise or 0.47 per cent in the last two days.
The local currency moved in a range of 63.67 and 63.53 during the day.
The dollar remained firm against the yen and the euro in the Asian market today following comments by Federal Reserve Chairwoman Janet Yellen late last week and renewed concerns about Greece’s debt problems.
The euro fell after Greek leaders said the country won’t make International Monetary Fund repayments that are due in June.
The dollar index, a gauge of six other major global rivals, was trading higher by 0.13 pct.
In the New York market, the dollar recorded its first weekly gain against the euro in five weeks on last Friday, wrapping up the week up 3.4 per cent.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.