Indian rupee declines for third day against US dollar
The rupee resumed lower at 61.71 per dollar against the previous close of 61.52 at the Interbank Foreign Exchange Market. It hovered in a range of 61.54 to 61.83 before ending at 61.65 per dollar, a loss of 13 paise or 0.21 per cent.
The rupee has now fallen 42 paise, or 0.69 per cent, in three sessions.
"The Indian rupee was seen trading in a range-bound manner due to the absence of any major domestic news and ahead of US NFP (non-farm payrolls) data," said Abhishek Goenka, CEO of India Forex Advisors.
A forex dealer said sustained dollar demand from importers mainly affected the rupee's value. However, good inflows from foreign funds in the equity market restricted the currency's fall.
Meanwhile, the 30-share S&P BSE Sensex ended 28.92 points lower at 20,864.97. Foreign institutional investors bought a net Rs 1,031.79 crore of shares on Monday, according to provisional data from the stock exchanges.
In New York, the dollar scored minor gains against rival currencies yesterday as traders awaited a round of US economic data, including September non-farm payrolls, previously delayed by the government shutdown. .
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Indian rupee declines for third day against US dollar
Reviewed by Unknown
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11:14:00 PM
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Reviewed by Unknown
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11:14:00 PM
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