Rupee logs first fall in 3 days, down 11 paise against US dollar

The rupee today resumed lower at 63.95 per dollar at the interbank foreign exchange (forex) market against yesterday's closing level of Rs 63.91 a dollar. The domestic unit hovered between 64.04 and 63.93 during the session. It finally ended at 64.02, down 11 paise.

By: PTI | Mumbai | Published: August 29, 2017 8:25 pm
rupee, rupee rate, dollar rate, market, market news, indian express The RBI, meanwhile, fixed the reference rate for the dollar at 64.0174 and for the euro at Rs 76.7505

Snapping its two-session rise, the rupee today declined by 11 paise to close at 64.02 against the US dollar amid renewed global tensions in the wake of North Korea firing a misile that passed over Japan. The domestic currency yesterday closed with 13 paise gains at a near three-week high of 63.91. The rupee sentiment was also hit by performance of domestic bourses, where both the Sensex and the Nifty saw a sharp fall in line with a general weakness across the globe.

The rupee today resumed lower at 63.95 per dollar at the interbank foreign exchange (forex) market against yesterday’s closing level of Rs 63.91 a dollar. The domestic unit hovered between 64.04 and 63.93 during the session. It finally ended at 64.02, down 11 paise.

The RBI, meanwhile, fixed the reference rate for the dollar at 64.0174 and for the euro at Rs 76.7505. However, weakness in dollar against major rivals overseas on renewed North Korea crisis capped the rupee losses to some extent, said a dealer. The Korean peninsula was on the boil after North Korea fired the ballistic missile that flew over Japan before plunging into the Pacific Ocean, officials said today, in a clear message of defiance as Washington and Seoul conduct war games nearby.

Overseas, the US dollar was lower against the basket of currencies and hit a four-month low against the yen. The dollar index against a basket of six major currencies were trading marginally up by 0.01 per cent at 92.20. The Sensex hurtled straight down to 31,388.39 — a one- week low — plunging over 362 points and the NSE Nifty cracked below the 9,800 mark, registering their first loss after a four-day winning streak.

In cross-currency trades, the rupee extended its fall against the pound sterling to finish at 82.91 per pound from 82.53 and also drifted lower against the euro to settle at 77.10/12, against 76.22 earlier. The local unit, however, closed at 58.98 per 100 yens against 58.50 earlier. The US dollar continued its prolonged Fed-driven weakness against all its major rivals on growing concerns about US President Donald Trump’s ability to drive his economic agenda even as the heavily anticipated speech by Federal Reserve Chair Janet Yellen in Jackson Hole failed to provide stronger policy guidance.

For all the latest Business News, download Indian Express App

    Live Cricket Scores & Results