Rupee falls further to 65.12 against dollar, down 7 paise

Rupee falls further to 65.12 against dollar, down 7 paise

Extending losses for the second straight session, the rupee on Wednesday fell by another 7 paise to to end at 65.12 against the US dollar on persistent demand for the American currency from banks and importers despite sustained foreign capital inflows.

Foreign portfolio investors (FPIs) bought shares worth a net Rs 523.69 crore on Tuesday, as per provisional data released by the stock exchanges. The Indian rupee opened marginally lower at 65.09 per dollar as against Tuesday’s level of 65.05 at the Interbank Foreign Exchange market.

It hovered in the range of 65.22 to 65.09 per dollar during day before ending at 65.12, showing a loss of seven paise or 0.11 per cent. The domestic currency has lost 32 paise or 0.49 per cent in two days. The dollar index was trading down by 0.03 per cent against a basket of 6 currencies in the late afternoon trade.

In Tokyo, the dollar inched up against the yen in range-bound in late afternoon trade on Wednesday, with investors largely sitting on the sidelines with no fresh trading cues. Amid a lack of fresh trading cues, the dollar advanced against the yen with a solid gain in the benchmark Nikkei Stock Average supporting the trading pair.

However, in New York, the US dollar eased marginally against its main rivals on Tuesday, but the greenback held in a tight range as investors refrained from making large bets ahead of a meeting of European Central Bank policy makers. Meanwhile, the benchmark BSE Sensex declined by 19.17 points or 0.07 per cent to close at 27,287.66.
[“source -financialexpress”]

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