1. Indian rupee trims early losses, still down 7 paise against US dollar

Indian rupee trims early losses, still down 7 paise against US dollar

The rupee trimmed its initial losses, but was still down 7 paise at 63.22 against the US dollar in late morning trade.

By: | Mumbai | Updated: April 29, 2015 12:32 PM
indian rupee vs us dollar

Forex dealers said besides month-end demand for the US dollar, a lower opening in the domestic equity market weighed on the rupee. (Reuters)

The rupee trimmed its initial losses, but was still down 7 paise at 63.22 against the American currency in late morning trade on bouts of month-end dollar demand from banks and importers amid volatile equities.

The rupee opened lower at 63.22 against last closing level of 63.15 at the Interbank Foreign Exchange market. Then it slid further to 63.28 before quoting again at 63.22 at 1100 hrs.

It hovered in a range of 63.14 and 63.28 during morning deals.

In New York forex market, the dollar remained stuck at its two-month lows against a basket of major currencies in early trade as the market hedged the risk that the Federal Reserve might sound more dovish following a two-day policy review.

Meanwhile, the BSE Sensex was trading lower by about 189 points or 0.69 per cent at 27,207.84 in late morning trade.

For Updates Check Banking & Finance News; follow us on Facebook and Twitter

Calculate your income tax post budget 2018 through this Income Tax Calculator, get latest news on Budget 2018 and Auto Expo 2018. Like us on Facebook and follow us on Twitter.

  1. No Comments.

Go to Top