Mumbai, India (BBN) – The rupee slipped further by 17 paisa to 67.91 against the US currency in late morning deals following bouts of month-end dollar demand from banks and importers amid continued capital outflows.
Earlier, the Indian rupee opened lower by 9 paise at 67.83 against Monday’s closing of 67.74 at the Interbank Foreign Exchange (Forex) market today, The Hindu Business Line.
The domestic unit hovered between 67.91 and 67.82 per dollar during morning deals before quoting at 66.89, down 15 paisa at 11.00 am local time.
“The year-end markets are very low on liquidity and continue to trade in a tight range with the dollar index hovering around 103 levels,” a forex dealer said.
“The rupee continues to trade in a very narrow range, despite continued FII outflows,” he further said.
The dollar index, which tracks the greenback against a basket of six global peers, added 0.08 per cent to 103.09, half-a-per cent below the highest level since December 2002 hit a week ago.
The dollar inched up against yen and euro today as some investors emerged out of the holiday lull to hunt for bargains as the market entered the last trading stretch of the year.
Meanwhile, the benchmark Sensex was up by 106.14 points or 0.41 per cent at 25,913.24.
BBN/MS/ANS