Rupee snaps 2-day gains vs dollar; falls 7 paise | business | Hindustan Times
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Rupee snaps 2-day gains vs dollar; falls 7 paise

The rupee snapped its two-day winning run against the American currency, slipping 7 paise to close at 62.26 on fresh dollar demand from banks and importers coupled with positive global cues.

business Updated: Apr 07, 2015 19:12 IST

The rupee snapped its two-day winning run against the American currency, slipping 7 paise to close at 62.26 on fresh dollar demand from banks and importers coupled with positive global cues.

However, persistent foreign capital inflows into the equity markets restricted the rupee's fall against dollar, a forex dealer said.

The rupee resumed the day lower at 62.22 per dollar against the last closing level of 62.19 at the Interbank Foreign Exchange (Forex) market.

The domestic unit moved in a range of 62.22-62.4050 per dollar during the day before settling at 62.26, registering a loss of 7 paise or 0.11%. The local currency had gained 48 paise or 0.77% in the previous two sessions.

In the Asian market, the US dollar remained mostly flat against other major currencies as market participants anticipate a delay in rate hike by the US Fed following disappointing jobs data on Friday.

The dollar index, a gauge of six major global rivals, was up by 0.77% on Tuesday.

Oil prices fell in the early Asian trade after Goldman Sachs predicted months of low commodity prices ahead.

Meanwhile, the benchmark BSE Sensex inched up by 12.13 points or 0.04% to end at 28,516.59.

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