Rupee bounces back by 19 paise to end at 66.33 vs dollar
The rupee recovered by 7 paise to 66.45 against the US dollar in early trade on Friday on fresh selling of the American currency by exporters amid sustained foreign fund inflows.business Updated: Apr 29, 2016 18:42 IST
The rupee recovered by 19 paise against the American currency on Friday to close at 66.33 on fresh selling of dollars by banks and exporters in view of weaker greenback overseas.
Persistent foreign capital inflows also boosted the rupee value against the dollar to some extent, a forex dealer said.
The rupee resumed higher by 66.48 against Thursday’s level of 66.52 per dollar at the Interbank Foreign Exchange market and hovered in a range of 66.5650 and 66.28 per dollar before finishing at 66.33, showing a gain of 19 paise or 0.29%.
The rupee dropped to 66.5650 during the intra-day trade on month-end dollar demand from importers, mainly oil refiners.
The rupee had ended lower by 8 paise or 0.12% on Thursday.
The dollar index was down by 0.43% against a basket of six currencies in the late afternoon trade.
At the overseas, the US dollar were mostly lower against the basket currencies, while the yen surged to an 18-month high against the dollar in early trade, staying firm in the wake of the Bank of Japan’s decision the previous day to hold off from expanding monetary stimulus.
The RBI fixed the reference rate for the dollar at 66.5176 and euro at 75.7303.
In cross-currency trades, the rupee dropped against the pound sterling to finish at 97.05 from 96.79 on Thursday.
It moved down further against the euro to 75.60 per euro from 75.50 previously.
The domestic currency dropped further against the yen to 61.92 per 100 yens from 61.55 on Thursday.