Rupee slips against US dollar
The rupee hit day’s low of 59.80 against the US dollar in intraday trade amid sustained bouts of demand for the American currency from banks and importers.
Earlier, the rupee resumed lower at 59.31 per dollar as against yesterday’s closing level of 59.25 at the Interbank Foreign Exchange market.
It quoted at 59.44 per dollar at 1020 hours on bouts of dollar demand and was hovering in the range of 59.55 and 59.31 per dollar during late morning deals.
Meanwhile, Brent North Sea crude gained 57 cents to USD 113.59 per barrel after shooting up to USD 3.07 in London.
In New York market, the US dollar dropped against its basket currencies late yesterday in the midst of a statement by head of the Bank of England over first interest rate hike in the UK that could come sooner than currently expected.
Meanwhile, the benchmark BSE Sensex rose 63.43 points, or 0.25 per cent, to 25,639.64 at 1050 hours.
Source: economictimes
Related Posts
The Launch of RMB Index Helps to Guide Public View of RMB Exchange Rate
Bank of America instructs Shearman & Sterling disputes head for forex lawsuit
Rupee gains 7 paise against the US dollar in trade
Bank of England shouldn’t cut rates over deflation – Monetary Policy Committee member David Miles
British pound plunged to fresh 31-year lows
