The Indian rupee today lost three paise at 63.28 against the dollar due to sustained capital outflows and fresh...
The Indian rupee today lost three paise at 63.28 against the dollar due to sustained capital outflows and fresh demand for the US currency from banks and importers.
At the Interbank Foreign Exchange (Forex) Market, the rupee hovered in a range of 63.24 and 63.50 per dollar before ending at 63.28 per dollar, three paise lower than its previous close.
Forex dealers said equities closed down by over half per cent for the day which forced the rupee to trade weak. Also dollar demand from oil companies dented the rupee movement further, they added.
Meanwhile, benchmark BSE Sesnex dropped by 195.33 points or 0.71 per cent to close at 27,506.46.
In the rupee forward market, the benchmark six-month premium payable in May ended at 196-198 paise as against Monday’s close of 196.5-198.5 paise.
Forward contracts maturing in November 2015 settled the day at 404-406 paise as against 402.5-404.5 paise previously.
The Reserve Bank of India fixed the reference rate for dollar at 63.44 and for euro at 77.62.
The rupee improved further against the pound to 98.48 from 98.70 yesterday and also firmed up to Rs 77.37 per euro as against 77.54.
It, however extended its gains to end at 52.69 per 100 Japanese yen from 52.81.