Rupee ends at 21-month low of 64.26 against USD
Mumbai: Declining for the fourth straight day, the rupee slipped by 10 paise to close at 21-month low of 64.26 on sustained dollar demand from banks and importers amid foreign capital outflows.
The rupee opened higher at 64.05 from its previous close of 64.16 at the Interbank Foreign Exchange (Forex) market on initial selling of dollars by banks and exporters.
However, it dropped afterwards to 64.30 before ending at 21-month low of 64.26 on fag-end dollar demand from banks and importers, a loss of 10 paise, or 0.16 per cent, from its last close after moving in a range of 64.05 and 64.30 during the day.
The rupee had last ended at 65.24 on September 6, 2013, and has dropped 42 paise or 0.66 per cent in last four days.
Bonanza Portfolio Senior Vice President Rakesh Goyal said, “The dollar is seen stronger amidst the two day US Fed policy review that starts today.”
The trading range for the Spot USD/INR pair is expected to be within 63.80 to 64.60.
The dollar index was trading higher by 0.13 per cent against its major global rivals today.
Meanwhile, the benchmark BSE Sensex closed 100 points up at 26,686.51.