Indian rupee snaps two-day gains againts US dollar

Apr 03 2014, 12:05 IST
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The fall in Indian rupee value against US dollar has been restricted due to persistent foreign capital inflows into the equity market. The fall in Indian rupee value against US dollar has been restricted due to persistent foreign capital inflows into the equity market.
SummaryIndian rupee resumed lower at 59.95 per dollar as against last closing level of 59.90 per dollar.

The Indian rupee snapped its 2-day gains against the American currency by slipping 11 paise to 60.01 per dollar on renewed dollar demand from banks and importers in view of firm dollar in the overseas market.

However, the fall in rupee value against dollar was restricted due to persistent foreign capital inflows into the equity market.

The rupee resumed lower at 59.95 per dollar as against the last closing level of 59.90 per dollar at the Interbank Foreign Exchange (Forex) Market and dropped further to 60.03 per dollar before quoting at 60.01 per dollar at 1000hrs.

It moved in a range of 59.83-60.03 per dollar during the morning deals.

In the New York market, the dollar rose against the euro yesterday after the U.S. private sector added the most jobs in three months, setting the stage for Fridayís broader read on employment and its implications for rate hikes next year.

Meanwhile, the Indian benchmark sensex eased by 14.32 points or 0.06 per cent to 22,537.17 at 1000hrs, after hitting an all-time high of 22,620.65 in opening trade.

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