Economy

Rupee ends marginally down vs dollar, trades at 65.76

Rupee ends marginally down vs dollar, trades at 65.76

The rupee ended marginally down against the American currency at 65.76 per dollar on some dollar demand frombanks and importers despite steady dollar in the overseas market.

Earlier, the rupee opened lower at 65.80 as against Thursday’s level of 65.75 at the Interbank Foreign Exchange (Forex) market and dropped further to 65.84 per dollar on initial dollar demand from banks.

However, it trimmed its initial losses and recovered to 65.72 per dollar on selling of dollars by exporters before finishing at 65.76 per dollar, still showing a loss of one paise or 0.02 per cent.

It has dropped by 27 paise or 0.41 per cent in two days.

It hovered in a range of 65.72 per dollar and 65.84 per dollar during the day.

The dollar index was traded higher by 0.11 per cent against a basket of six currencies in the late afternoon trade.

In Asian market, the dollar stabilized on Friday as investors awaited the US jobs report to help them weigh the odds of a Federal Reserve rate increase this year.

Momentum on the US dollar’s rise, which hit multi-month highs against the euro and the yen on Thursday, tapered off on Friday after data showed new applications for unemployment benefits last week logged a bigger-than-expected jump in the US.

Meanwhile, the Indian benchmark Sensex ended lower by 38.96 points or 0.15 per cent.
[“source-businesstoday”]

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