Indian rupee closes 10 paise lower at 66.46 against US dollar

By: | Updated: September 16, 2015 6:54 PM

Extending losses for the second consecutive day, the rupee slipped by 10 paise to close at 66.46 against the US dollar on persistent demand for the American currency from banks...

indian rupeeIndian rupee vs US dollar: Persistent demand for the dollar from importers also weighed, but the dollar’s weakness against other currencies overseas and early gains in stock markets capped the rupee’s losses, forex dealers said.

Extending losses for the second consecutive day, the rupee slipped by 10 paise to close at 66.46 against the US dollar on persistent demand for the American currency from banks and importers on the back of a higher greenback in overseas markets.

Besides, fresh foreign capital outflows affected the market sentiments.

The domestic unit resumed lower at 66.40 as against yesterday’s closing of 66.36 at the Interbank Foreign Exchange (Forex) market.

It hovered in a range of 66.3450 to 66.5075 during the day before ending at 66.46, showing a loss of 10 paise, or 0.15 per cent.

It has dropped by 13 paise, or 0.20 per cent, in two days.

The dollar index was higher by 0.21 per cent against a basket of six currencies.

In international markets, the US dollar firmed up against its major rivals, buoyed by a rise in US yields after upbeat consumer spending data kept alive hopes that the US Federal Reserve would raise interest rates at its two-day meeting.

Meanwhile, the benchmark BSE Sensex rose by 258.04 points, or one per cent, to settle at 25,963.97 today.

Meanwhile, foreign portfolio investors (FPIs) sold shares worth Rs 910.85 crore yesterday, according to provisional data available from the stock exchanges.

In forward market today, premium for dollar declined on sustained receivings from exporters.

The benchmark six-month premium payable in February fell to 189.5-191.5 paise from 192.5-194.5 paise yesterday, while the far forward August 2016 also moved down to 402-404 paise against 405-407 paise.

The RBI fixed the reference rate for the dollar at 66.50 and for the euro at 75.02.

The rupee fell against the pound sterling to close at 102.49 as against 102.31 yesterday, while it firmed up against the euro to 74.58 from 75.09.

It recovered against the Japanese currency to 55.13 per 100 yen from 55.43 previously.

Forex and money market will remain closed tomorrow on account of “Ganesh Chaturthi”.

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