Rupee trading weak at 64.37

Mumbai, July 25:  

The rupee was trading weak at 64.37 against the US dollar due to dollar demand for the US currency from banks and importers. However, weakening of dollar against other currencies overseas capped the rupee’s losses.

The domestic unit opened the session down by 5 paise at 64.39 at the Interbank Foreign Exchange market today. It hovered in a range of 64.41 and 64.34 before quoting at 64.37, down 3 paise at 4.35 pm local time.

The rupee had shed 2 paise to end at 64.34 against the US currency yesterday.

The 50-share NSE index Nifty closed down by 1.85 points or 0.02 per cent at 9,964.55, after earlier gaining as much as 0.45 per cent to a record high of 10,011.30 on hopes of better corporate results, accelerating economic growth and government reforms.

Similarly, the 30-share BSE index Sensex closed down by 17.6 points or 0.05 per cent at 32,228.27, after earlier rising as much as 0.40 per cent to an all-time high of 32,374.30.

The dollar fell to a 13-month low on Tuesday against a trade-weighted basket of major currencies, extending recent declines as investors positioned for a Federal Reserve meeting starting later in the day.

(This article was published on July 25, 2017)

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