Rupee Falls Nine Paise Vs US Dollar to End at 60.56
Retreating from over three-week highs, the Indian rupee today fell nine paise to close at 60.56 against the Greenback on late profit booking in local equities and fresh dollar demand from oil importers.
However, sustained capital inflows and a weak dollar overseas limited the rupee fall, a forex dealer said.
At the Interbank Foreign Exchange (Forex) market, the domestic unit commenced lower at 60.52 a dollar from previous close of 60.47. It tried to recover and logged an intra-day high of 60.41 on initial strong rally in local stocks.
However, the rupee met with strong resistance on fag-end profit booking in local shares and renewed dollar demand from importers, mainly oil refiners, to meet their month-end requirements. It fell back to a low of 60.58 before settling at 60.56, a fall of nine paise or 0.15 per cent.
Last Friday, it had gained 20 paise to end at more than three-week high of 60.47.
The Indian benchmark S&P BSE Sensex, which was up by over 210 points at mid-session, washed out early sharp gains and closed with a marginal gain of 17.47 points or 0.07 per cent.
Foreign Portfolio Investors (FPIs) injected Rs 302.06 crore last Friday, as per provisional data.
The dollar index against its major global rivals was down by 0.14 per cent.
Pramit Brahmbhatt, Veracity Group, CEO said: "Rupee initially showed some positive trend taking cues from local equity market which made new intra-day highs. However, the rupee lost his early gains and closed weak. The trading range for the spot rupee is expected to be within 60.20 to 61.00."
FROM OUTLOOKBook extractThe PM did not really comprehend the devaluation package negotiated by experts. Her instincts told her there would...more from outlook>>>
FROM THE WEBRBI: Change of GuardStatement by the new Reserve Bank of India governomore from WEB>>>
FROM WIRESMumbai, Dec 23 (PTI) Sustained demand for the dollmore from WIRES>>>
- Pak Will Give Befitting Response to Any Misadventure: Raheel
- Shahabuddin Surrenders, Says CM Will be 'Taught a Lesson'
- Sri Lanka Becomes Fifth Nation to Pull Out of SAARC
- SC Cancels RJD Leader Shahabuddin's Bail, Sends Him Back to Jail
- Surgical Strikes by India in PoK an Act of Self Defence: Afghanistan
- Bihar Liquor Prohibition Law Illegal, Rules Patna High Court
- Denzel Washington's 'FENCES' Trailer Promises Oscar Contenders
- Roasted For Being Dark, Parched Actor Tannishtha Chatterjee Gets Apology
- Karachi's Stand-Up Comedian Has His Reasons Why India And Pakistan Should Not Go To War
- Prabhu Deva Does A Gandi Baat Jig With Father
- Highlights From The First US Presidential Debate
- List Of People Who Have Been At The Receiving End Of A Shoe
- Will Tell India What Is Real Surgical Strike: Saeed
- Telcos Meet TRAI, Allege Tariff Order Violation by RJio
- Surgical Strike: South Korea Supports India's Stance
- Court Issues NBW Against Dawood Ibrahim, Chhota Shakeel
- 10 Killed, 29 Missing in Typhoon Megi in China
- Philippine Prez Duterte 'Happy to Slaughter' Drug Suspects, Mentions Hitler
- MOST VIEWED
- MOST COMMENTED