Monday, 21 May 2018

Indian rupee down 7 paise against dollar in late morning deals

The rupee pared some initial losses, to trade lower by seven paise at sixty eight.07 against the yank currency in late morning deals on sustained dollar demand from importers and banks, despite lower native equities.

The rupee recovered from a contemporary 16-month low of sixty seven.08 against last Friday's closing level of sixty eight.00 per dollar at the inter-bank exchange here.

Later, it regained its lost ground to trade flat at sixty eight before falling once more in late morning deals; it had been mercantilism at sixty eight.07 per dollar at 1030 hrs.

The domestic unit hovered between sixty eight.00 and 68.15 throughout morning deals.

"Sustained capital outflows, higher dollar overseas once easing trade war tension's loomed over rupee," a dealer same.

Meanwhile, the North American country dollar rose against basket currencies in early Asian trade once North American countryTreasury Secretary Steven Mnuchin same the North American country trade war with China was on hold.

The 30-share BSE Sensex fell by fifty five.04 points, or 0.16 percent, at 34,793.26 at 1050 hrs.
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