Re, gold drop on dollar demand, weak markets

The rupee today fell 9 paise to close at 60.22 against the US dollar on fresh dollar demand from importers, a strong dollar overseas and late profit-booking in stocks.

The rupee on Friday fell 9 paise to close at 60.22 against the US dollar on fresh dollar demand from importers, a strong dollar overseas and late profit-booking in stocks.

The rupee has fallen 1.4 % during the week and this nine-week losing streak is the longest since the last one ended June 3, 2012.

The US non-farm payrolls data will decide direction of the rupee next week. This (US data) will have an impact on the rupee,” said Dipen Shah, head, private client group research, Kotak Securities.

Meanwhile, gold prices fell Rs 110 to Rs 26,720 per 10 grams, trackglobal markets. Silver, too, dropped Rs 800 to Rs 40,600 per kg.