Rupee Ends Lower At 66.44 On Dollar Demand

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Mumbai: In line with equities, the rupee on Monday fell by 11 paise to close at 66.44 per dollar on fresh demand for the US currency from banks and importers despite a weaker greenback in the overseas market.

Fresh foreign capital outflows also affected the rupee sentiment, a forex dealer said.

The rupee resumed lower at 66.41 as against Friday’s level of 66.33 per dollar at the interbank foreign exchange market and hovered in a range of 66.3150 and 66.4550 before ending at 66.44, showing a loss of 11 paise or 0.17 per cent.

The rupee had gained by 19 paise or 0.29 per cent last Friday.

The dollar index was down 0.19 per cent against a basket of six global currencies in the afternoon.

The Reserve Bank of India fixed the reference rate for the dollar at 66.3435 and euro at 76.0562.

In cross-currency trades, the rupee dropped further against the pound sterling to finish at 97.31 from the previous closing level of 97.05.

It also moved down further against the euro to 76.28 per euro from 75.60 per euro previously.

The domestic currency also dropped further against the yen to 62.20 per 100 yens from 61.92.