Mumbai, India (BBN) – Indian rupee was trading weak by 67.05 due to sustained demand for the American currency from importers and banks.
Dealers attributed the rupee’s fall to sustained demand for the US currency from importers, but a firm domestic equity market and the dollar’s weakness against some currencies overseas capped the losses, reports The Hindu Business Line quoting PTI.
The domestic unit opened weak by 7 paisa at 66.97 at the Interbank Foreign Exchange market today.
It hovered in a range of 67.07 and 66.91 before quoting at 67.05, down 15 paisa at 4.30 pm local time.
Yesterday, the rupee had extended gains for the second straight day by moving up another 3 paisa to close at 66.90 per dollar on sustained selling of the US currency by banks and exporters.
Meanwhile, the benchmark BSE index closed 145.71 points or 0.52 per cent up at 28,301.27.
The dollar pulled back on Thursday after rising to one-month highs in the wake of upbeat US economic data, with demand for the greenback cooling as Treasury yields came off their peaks.
BBN/SK/AD