Rupee pares early losses, gains 1 paisa against US dollar
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Rupee pares early losses, gains 1 paisa against US dollar

The rupee had closed below the key 68-mark to end at 68.01 per US dollar on Friday, after the country’s trade deficit widened more than expected amid renewed global trade war fears.

business Updated: Jun 18, 2018 13:58 IST
Press Trust of India
Press Trust of India
Press Trust of India, Mumbai
Rupee,Rupee today,US dollar
A one rupee coin is seen in this picture illustration taken in Mumbai April 30, 2012. REUTERS/Vivek Prakash/Files(Reuters File Photo)

The rupee pared morning losses and was trading 1 paisa higher to 68 against the American currency in late morning deals amid bouts of dollar-selling by banks and exporters, despite strength in the greenback.

The rupee hit a fresh three-week low of 68.16 against last Friday’s closing level of 68.01 at the inter-bank foreign exchange in Mumbai.

Some dollar-selling by banks on behalf of the apex bank curbed the fall in rupee, a dealer said.

Meanwhile, the US dollar rose towards a seven-month high against its major peers in early Asian trade as investors hoped the United States and China would avoid a full-blown trade war, although tensions between the two slowed its gains.

The 30-share BSE Sensex was rangebound in trade on Monday afternoon.

First Published: Jun 18, 2018 09:47 IST