The Indian rupee snapped 2-day losses against the US dollar and ended higher by 12 paise at 61.62 on selling of dollars by banks and exporters on hopes of persistent capital inflows.
The rupee resumed lower at 61.95 per dollar as against the last
closing level of 61.74 at the Interbank Foreign Exchange (Forex) Market on initial dollar demand from banks and importers. However, it recovered afterwards to 61.61 per dollar on fag-end selling of dollars by some banks and exporters before ending at 61.62 per dollar, showing a gain of 12 paise or 0.19 per cent from its last close.
It hovered in a range of
61.61 per dollar and 61.96 per dollar during the day.
In the global market, the US dollar held almost steady sticking to its tight range after a strong showing the previous week, while the Australian dollar lost ground after comments from the central-bank governor.
"The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, is trading range bound but is slightly on the weaker side which helped Rupee to trade strong against the mighty. Today, local equities traded weak and closed down by over 1 per cent which capped the rupee gain," said Pramit Brahmbhatt, CEO, Alpari Financial Services (India).
The BSE Sensex
dropped by 265 points, or 1.25 per cent, to 20,974.79.
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