Forex Market News

Rupee Pares Early Losses To Rule Stable At 66.66 vs USD

The rupee pared its early losses to rule steady at its overnight levels of 66.66 against the American currency in late morning deals bouts of dollar selling from banks and exporters. The domestic unit opened slightly lower at 66.69 as against yesterday’s closing of 66.66 per dollar at the Inter-bank Foreign Exchange (Forex) market.
It swung between losses and gains at 66.7350 and 65.75 before quoting stable at 66.66 at 1030 hrs. Meanwhile, the dollar index was up 0.16 percent at 95.52 against a basket of six currencies in early trade. Overseas, the US dollar gained against the basket currencies in early Asian trade, but was on track to end a tumultuous week with losses after the Federal Reserve trimmed its long-term interest rate expectations and the Bank of Japan rebooted its monetary policy framework. Meanwhile, the BSE Sensex was trading lower by 33.51 points or 0.12 percent to 28,739.62 at 1050 hrs.
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