1. Rupee trims initial losses, still down by 2 paise

Rupee trims initial losses, still down by 2 paise

The rupee pared its initial losses to some extent but was still trading down by 2 paise at 64.45 against the US currency in late morning deals following sustained bout of dollar demand from banks and importers.

By: | Published: June 7, 2017 11:36 AM
The domestic unit hovered in a range of 64.51 and 64.44 per dollar during the morning deals before quoting at 64.45 at 1025 hours.

The rupee pared its initial losses to some extent but was still trading down by 2 paise at 64.45 against the US currency in late morning deals following sustained bout of dollar demand from banks and importers. Earlier, the rupee resumed lower by 6 paise to 64.49 as against yesterday’s closing level of 64.43 per dollar at the Interbank Foreign Exchange (Forex) Market.

The domestic unit hovered in a range of 64.51 and 64.44 per dollar during the morning deals before quoting at 64.45 at 1025 hours. The dollar index was trading up 0.14 per cent at 96.66 against a basket of six currencies in the global market.

Overseas, the dollar was near a six-week low against the safe-haven yen today, with traders cautious ahead of Britain’s general election, a European Central Bank policy decision and testimony by former FBI Director James Comey.

The greenback was trading at 109.490 against the yen, not far from 109.225, its lowest since April 21.

Meanwhile, the benchmark BSE Sensex was trading up by 138.12 points, or 0.44 per cent, at 31,328.68 at 1025 hours.

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