Rupee continues loss against dollar, slips 5 paise to 66.76
Dealers attributed the rupee’s fall to increased demand for the US currency, but dollar’s weakness against some currencies overseas made sure the losses do not mount.business Updated: Jun 10, 2016 18:51 IST
In line with the equity market, the rupee on Friday extended losses against the American currency, slipping by another 5 paise to close at 66.76 on persistent dollar demand from banks and importers.
The rupee opened lower at 66.80 a dollar against the overnight closing of 66.71 at the Interbank Foreign Exchange (Forex) market and hovered in a range of 66.73 and 66.88 before ending at 66.76, still showing a loss of 5 paise or 0.07%.
It has lost 11 paise or 0.17% in last two days.
Meanwhile, the dollar index was up by 0.16% against the basket of six global currencies in the late afternoon trade.
Meanwhile, the RBI fixed the reference rate for the dollar at 66.7948 and euro at 75.4714
In cross-currency trades, the rupee firmed up against the pound sterling to end at 96.24 from 96.51 on Thursday and also moved up against the euro to 75.46 per euro from 75.65.
The domestic currency also looked up against the yen to 62.47 per 100 yens from 62.60 on Thursday.
Overseas, the US dollar was mostly down against its major rivals in early Asian trade, but was on track for a modest weekly gain, having bounced off this week’s one-month lows as the euro took a heavy spill while sterling stayed under a cloud on jitters over the upcoming Brexit vote.