Forex update: Rupee falls after four days to 60.82 level

The rupee on Monday closed one paisa down at 60.82 against the US dollar at the Interbank Foreign Exchange (Forex) market on alternate bouts of demand and supply, snapping a four-day rising trend.

In lacklustre trade, the rupee commenced lower at 60.85 against the American unit from its previous close of 60.81. It was trapped in a range of 60.7425 and 60.88 before concluding at 60.82, showing a minor fall of one paisa.

In the previous four days, the domestic unit had risen by 32 paise.

The dollar index was down 0.04 per cent against its major global rivals.

Pramit Brahmbhatt, Veracity Group CEO, said, "Rupee traded in a thin range and ended flat. Rupee is expected to appreciate in coming days tracking gains in local equities. The trading range for the spot rupee is expected to be within 60.30 to 61.30."

The benchmark Bombay Stock Exchange (BSE) Sensex on Monday washed out initial sharp losses and gained 116.32 points to end at two-week high.

Foreign Institutional Investors (FIIs) bought shares worth US $18.48 million last Friday, as per data released by the Securities and Exchange Board of India (Sebi).