Thursday, 1 December 2016

Rupee pares initial losses, still down by 2 paise against USD

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The rupee pared initial losses, but was still quoting lower by 2 paise in late morning trade to 68.40 against the American currency on demand from banks and importers amid higher dollar overseas. The Indian currency opened lower by 10 paise at 68.48 as against Wednesday's level of 68.38 per dollar at the Inter-bank Foreign Exchange (Forex) market. 

It hovered in the range of 68.52 to 68.38 per dollar during the morning deals, before quoting at 68.40 at 1015 hrs. The dollar index were trading down 0.07 percent at 101.46 against a basket of six currencies.

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