Rupee advances marginally vs dollar, ends at 66.14
The rupee recovered from initial losses against the American currency to close at 66.14 per dollar on fresh selling of dollars by banks and exporters on fresh foreign capital inflows into equity market.
Foreign portfolio investors (FPIs) pumped in $166.53 millions into equity market on Thursday as per the SEBI’s record.
The rupee resumed lower at 66.20 as against overnight closing level of 66.15 at the Interbank Foreign Exchange (forex) market and dropped further to 66.2650 per dollar on initial dollar demand from banks and importers.
However, it recovered from initial losses to 66.13 per dollar before finishing at 66.14 per dollar, showing a mere gain of one paise or 0.02 per cent.
It has gained by 25 paise or 0.38 per cent in two days.
The domestic currency moved in a range of 66.13 per dollar and 66.2650 per dollar during the day.
Overseas, the US dollar ended higher against its major rivals on Thursday amid lacklustre trade due to holiday season.
Mr. Pramit Brahmbhatt, Veracity Group CEO said,” Rupee traded minor positive taking cues from equity market. It traded in a thin range but eventually appreciated by one paisa for the day to close at 66.14. The trading range for the Spot Dollar/Rupee pair is expected to be within 66 to 66.30 range.
Meanwhile, the benchmark BSE Sensex moved up further by 43.36 points or 0.17 per cent to end at 26,160.90.
Read full article: Business Today
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