Rupee extends losses; down 9 paise against dollar
The rupee recovered by 5 paise to trade at 63.92 against the US dollar in early trade on Friday at the Interbank Foreign Exchange market on fresh selling of the American currency by exporters.business Updated: Jun 12, 2015 18:23 IST
The rupee extended losses for the second straight day against the American currency by slipping 9 paise to close at 64.06 on sustained dollar demand due to firm US dollar in the overseas market.
Continued capital outflows and cautious local stocks ahead of announcement of macroeconomic data also weighed on the rupee, a forex dealer said.
The rupee started weak at 64.05 from its previous close of 63.97 at the Interbank Foreign Exchange (Forex) market. It moved in a range of 63.8950 to 64.1450 before concluding at 64.06, disclosing a loss of 9 paise or 0.14%.
It dropped by 22 paise or 0.34% in the previous two days.
BSE Sensex ended higher by 54.32 points or 0.21%.
Meanwhile, foreign investors pulled out Rs 622.89 crore on Thursday, according to provisional data.
The dollar index was trading up by 0.41% in the late afternoon Asian trade on Friday against its six major global rivals.
In the global market, the dollar traded higher against its rivals on Friday, as worries surrounding Greece continued to build, though some investors were headed to the sidelines ahead of next week's US Federal Open Market Committee meeting.
Investors continue to watch headlines related to Greece after IMF halted bailout talks with the troubled nation on Thursday, citing a lack of progress over talks, while European leaders suggested negotiations were nearing an endgame.