Rupee Ends Lower At 67.21 On Dollar Demand

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Mumbai: The rupee slipped by 6 paise against the dollar to end at 67.21 on Thursday on fag-end demand for the American currency from banks and importers amid a fall in domestic stocks.

Weakness of dollar in the global markets and foreign capital outflows also affected the rupee sentiment, a forex dealer said.

The rupee opened higher at 67.12 against Wednesday’s closing level of 67.15 at the interbank foreign exchange (forex) market here on Thursday, on initial selling of dollars by exporters.

However, it dropped afterwards to 67.33 before ending at 67.21 on fag-end dollar demand from banks and importers, showing a loss of of six paise or 0.09 per cent.

The domestic currency hovered in a range of 67.12 and 67.3350 per dollar during the day.

The rupee had gained by 12 paise or 0.18 per cent against the American currency on Wednesday.

Meanwhile, the dollar index was up 0.42 per cent against the basket of six global currencies in the late afternoon trade.

The Reserve Bank of India fixed the reference rate for the dollar at 67.2068 and euro at 75.8160.

In cross-currency trades, the rupee recovered against the pound sterling to close at 94.97 from 95.31 on Wednesday and moved up further against the euro to 75.21 from 75.40.

However, the domestic currency dropped against the Japanese yen to 64.39 per 100 yens from 63.19.