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Rupee snaps 2-day gains vs dollar; falls 7 paise

Rupee vs dollar

Mumbai: The rupee snapped its two-day winning run against the American currency, slipping 7 paise to close at 62.26 on fresh dollar demand from banks and importers coupled with positive global cues.

However, persistent foreign capital inflows into the equity markets restricted the rupee’s fall against dollar, a forex dealer said.

The rupee resumed the day lower at 62.22 per dollar against the last closing level of 62.19 at the Interbank Foreign Exchange (Forex) market.

The domestic unit moved in a range of 62.22-62.4050 per dollar during the day before settling at 62.26, registering a loss of 7 paise or 0.11 per cent. The local currency had gained 48 paise or 0.77 per cent in the previous two sessions.

In the Asian market, the US dollar remained mostly flat against other major currencies as market participants anticipate a delay in rate hike by the US Fed following disappointing jobs data on Friday.

The dollar index, a gauge of six major global rivals, was up by 0.77 per cent today.

Oil prices fell in the early Asian trade after Goldman Sachs predicted months of low commodity prices ahead.

Meanwhile, the benchmark BSE Sensex inched up by 12.13 points or 0.04 per cent to end at 28,516.59.

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