Rupee ends marginally lower vs dollar, down 2 paise
The rupee recovered by 4 paise to Rs 63.71 against the US dollar in early trade on Thursday.business Updated: Aug 06, 2015 18:01 IST
In a choppy trade, the rupee ended marginally lower by two paise to 63.77 against the American currency on mild dollar demand from banks and importers on the back of higher greenback overseas.
The rupee resumed barely weak at 63.78 as against its previous closing of 63.75 at the Interbank Foreign Exchange (Forex) market and moved in a range of 63.71 and 63.81 before concluding at 63.77 per dollar, disclosing a loss of 2 paise or 0.03 %.
The US dollar index was up by 0.04 % against a basket of six currencies in the afternoon trade. However, persistent foreign capital inflows into equity market restricted the rupee's fall, a forex dealer said.
In New York, the dollar closed the session just below a two-month high against the yen yesterday after a gauge of service sector growth from the Institute for Supply Management rose to its highest level in 10 years.
Oil prices rose in Asia today after a mixed US energy report showed a healthy decline in crude stockpiles but a rise in output that could aggravate the global supply glut.
US benchmark West Texas Intermediate for September delivery rose two cents to $ 45.17 while Brent crude for September gained 11 cents to $ 49.70 in late-morning trade. Meanwhile, the benchmark 30-share index firmed up further by 75.05 points or 0.27 %.