​​ ​
  1. Rupee snaps 2-day losing run, up 4 paise at 67.90

Rupee snaps 2-day losing run, up 4 paise at 67.90

Indian rupee vs US dollar: In a volatile trade today, the rupee snapped its two-day losing streak against the US currency by recovering 4 paise to 67.90 on fresh selling of dollars by banks and exporters despite sustained fall in equities.

By: | Mumbai | Updated: February 9, 2016 6:29 PM
Indian rupee vs US dollar: The Indian rupee again broke below the 68-mark by depreciating 26 paise to 68.20 against the dollar in early trade on Tuesday at the Interbank Foreign Exchange due to increased demand for the American unit from importers and banks amid a lower opening in the domestic equity market.

Indian rupee vs US dollar: The domestic currency moved in a range of 67.89 and 68.22 per dollar during the day.  (Photo: AP)

In a volatile trade today, the rupee snapped its two-day losing streak against the US currency by recovering 4 paise to 67.90 on fresh selling of dollars by banks and exporters despite sustained fall in equities.

The weaker dollar in the overseas market also boosted the rupee value, a forex dealer said.

The domestic unit resumed lower at 68.14 per dollar as against Monday’s closing level of 67.94 at the Interbank Foreign Exchange (Forex) market and dropped further to 68.22 on initial dollar demand from banks and importers.

However, it recovered from initial losses to 67.89 on selling of dollars by banks and exporters before concluding at 67.90, showing a gain of four paise or 0.06 per cent.

It has dropped by 39 paise or 0.57 per cent in two days.

The domestic currency moved in a range of 67.89 and 68.22 per dollar during the day.

The dollar index was down by 0.21 per cent against a basket of six currencies in the late afternoon trade.

In New York, the US dollar fell to a 15-month low against the yen yesterday, as a renewed slide in oil prices and doubts about the effectiveness of the Bank of Japan’s negative interest-rate policy drove investors back into the safe-haven currency.

The dollar tumbled today to its weakest level against the yen since late 2014 in the international market, as plunging oil prices dragged global stocks lower, helping to support haven assets like the Japanese currency and US Treasuries.

 

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

  1. No Comments.

Go to Top