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Rupee slips further, down 7 paise vs USD in late morning deals


Mumbai : The rupee slipped further from initial losses, trading lower by 7 paise at 67.03 against the American currency in late morning deals on sustained bouts of dollar demand from importers and banks amid lower domestic equities.

The rupee opened slightly lower at 66.98 as against yesterday’s closing of 66.96 per dollar at the Inter-bank Foreign Exchange (Forex) market.

The domestic unit hovered in a range of 67.07 to 66.94 during the morning deals before quoting at 67.03 per dollar at 1040 hrs.

The dollar index was down 0.01 per cent at 95.86 against a basket of six currencies in early trade.

Overseas, the US dollar were mostly lower against a basket currencies, while it came to a standstill in early Asian trade as investors look tomorrow’s policy meetings of the Bank of Japan and Federal Reserve, with speculation rife that the Japanese central bank will make crucial changes to its easing programme.

Meanwhile, the benchmark Sensex was trading lower by 75.32 points, or 0.26 per cent, to 28,559.18 at 1150 hrs.

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