Rupee tumbles 19 paise at 45.98/99 against dollar
The rupee today lost 19 paise to close at 45.98/99 against the US currency due to fresh dollar buying by importers and some banks amid weak equity markets.
Mumbai: The rupee today lost 19 paise to close at 45.98/99 against the US currency due to fresh dollar buying by importers and some banks amid weak equity markets.
At the Interbank Foreign Exchange (Forex) market, the domestic unit opened lower at 45.96/97 a dollar from the last weekend's close of 45.79/80.
It concluded the day at 45.98/99, displaying a fall of 0.41 per cent. Last Friday, it had gained 29 paise. Dealers said fresh dollar demand from importers and some banks in view of firmness in the greenback in overseas markets affected the rupee sentiment. The dollar rose as investors turned to the US currency for its perceived safe-haven appeal, they added.
India Forex Advisors CEO Abhishek Goenka said, "Friday's dismal Non Farm Payments (NFP) data enhanced the demand for safe haven assets like the US dollar. Also, the local unit was tracking the weakness in euro and local stock markets."
"All Asian currencies were trading weak against the Greenback," he added.
The dollar index, consisting of six major rivals, was up by 0.13 per cent. The New York crude oil was trading below $ 85 a barrel in European market today.
Meanwhile, the Bombay Stock Exchange benchmark Sensex fell by over 108 points on sluggish global cues following murky US jobs data released last Friday.
FIIs infused USD 509.87 million last week, as per Sebi data.
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While the market was expecting the government to stick to its borrowing plan for now, a Reuters poll showed economists expecting 500 billion rupees of extra bond sales.
Rupee slips marginally against dollar in early trade amid rising demand for greenback from importers
Easing crude oil prices and lower US currency against its key rivals rendered some support to rupee, forex dealers said.