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Rupee snaps 2-day gains vs dlr, down 32 paise


Mumbai: Snapping its two-day rising streak, the rupee today tumbled by 32 paise to close at 64.17 on fresh dollar demand from importers and some banks ahead of the inflation data and the IIP data.

Fresh fall in equity market also affected the market sentiment.

A weak dollar overseas amid renewed capital inflows, however, restricted the rupee’s fall to some extent, a forex dealer said.

At the Interbank Foreign Exchange (Forex) market, the domestic unit started lower at 64.10 a dollar from previous close of 63.85 and moved in a range of 64.10 and 64.26 before concluding at 64.17, disclosing a fall of 32 paise.

The domestic currency had gained by 38 paise or 0.59 per cent in the last two days.

The dollar index was trading down 0.77 per cent against its major global rivals despite renewed worries over a Greek exit from the euro zone.

The Indian benchmark S&P Sensex today ended lower by 629.82 points or 2.29 per cent after two days of smart rally while foreign portfolio investors (FPIs) bought shares worth Rs 169.97 crore yesterday, according to provisional data.

In the global market, the dollar strengthened yesterday as discussions between Greeceā€™s leaders and eurozone finance ministers appeared to yield little progress, stoking worries about a Greek exit from the eurozone, which supported the buck against its main rival.

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