Rupee dips to 2-month low at 66.80 against dollar

  • PTI, Mumbai
  • Updated: May 16, 2016 18:42 IST
The rupee slipped by another three paise to hit 2-month closing low of 66.80 against dollar. (File Photo)

The rupee continued its falling streak against the US currency for the third day on Monday, slipping by another three paise to hit 2-month closing low of 66.80 on persistent dollar demand from banks and importers on the back of higher greenback in the overseas market.

Rise in crude oil prices also affected the rupee-value against the dollar, a forex dealer said.

The rupee resumed lower at 66.90 as against the last weekend’s level of 66.77 per dollar at the Interbank Foreign Exchange (Forex) Market and moved down to 66.91 on initial heavy dollar demand from banks.

However, it trimmed its initial losses and recovered 66.7225 per dollar before ending at 2-month closing low at 66.80, still showing a loss of 3 paise or 0.04%. The domestic currency has lost 24 paise or 0.36% in the last three trading sessions. The rupee had last ended at 67.22 per dollar on March 16, 2016.

The domestic currency hovered in a range of 66.7225 and 66.9100 per dollar during the day. The dollar index was down by 0.0074% in the late global trade against a basket of six global currencies.

Meanwhile, the RBI fixed the reference rate for the dollar at 66.8216 and euro at 75.5953. In cross-currency trades, the rupee firmed up further against the pound sterling to finish at 95.99 from the last weekend’s level of 96.27. It also moved up further against the euro to 75.62 from 75.80.

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