Indian rupee closed marginally higher on Thursday by gaining 2 paise at 67.18 against US dollar on Thursday at the Interbank Foreign Exchange. Domestic stock markets movement did not have much effect on the Indian currency and dollar movement. The benchmark BSE Sensex closed 205.37 points down at 27,710.52, while NSE Nifty ended 55.75 points lower at 8,510.10.
“During the first half there was demand for dollars from oilers, as month end demand have started to trickle in. However, state run banks were heard to have offered dollars. The offer may have been part of the central banks liquidity management operation, selling dollars and mopping up some of the surplus rupee liquidity. Indian govt bonds traded firm as demand for EM assets continue. Over the near term a range of 66:80/67:00 and 67:30 is seen,” Anindya Banerjee, currency analyst, Kotak Securities said.
The currency opened the day at 67.22 on Thursday as compared to 67.20 on Wednesday.
The Reserve Bank of India (RBI) fixed the reference rate for the dollar at 67.20 and euro at 74.15.