Mumbai: Snapping its 4-day winning spree, the rupee slipped by 7 paise to close at 63.59 against the US dollar today on fresh demand for the American currency from banks and importers on the back of a firm greenback overseas.
Besides, foreign capital inflows into equity markets restricted the rupee's loss against the dollar, forex dealers said.
The rupee resumed lower at 63.58 as against Monday's level of 63.52 at the Interbank Foreign Exchange (Forex) market. It hovered in a range of 63.65 and 63.55 during the day before finishing at 63.59, showing a loss of seven paise or 0.11 per cent.
It had gained 74 paise, or 1.16 per cent, in previous four sessions.
Oil prices fell in Asia with the possible return of Iranian crude to the global market, stoking further concerns over a supply glut, analysts said.
The dollar index was trading higher by 0.82 per cent against its major global rivals.
In the overseas market, the dollar gained against the yen and the euro today as risk-taking sentiments strengthened following signs of progress in Greece's bailout talks and upbeat US economic data.
Meanwhile, the benchmark BSE Sensex rose by 74.16 points, or 0.27 per cent, to settle at 27,804.37.
Comments
0 comment