Forex

Rupee trading flat at 64.32

Agencies Mumbai | Updated on January 11, 2018 Published on July 24, 2017

rupee

The rupee was trading flat at 64.32 against the US currency due to month-end dollar demand from importers. However, weakening of US dollar against other currencies overseas and a strong domestic equity market limited the rupee’s fall.

The rupee opened weak by 11 paise at 64.43 at the interbank foreign exchange market. It hovered in a range of 64.46 and 64.32 before quoting at 64.32 at 4.20 pm local time. The domestic unit had closed at 64.32 per dollar on Friday.

Meanwhile, the benchmark BSE index ended 216.98 points or 0.68 per cent up at an all-time closing high of 32,245.87 on contiued buying by foreign funds and domestic institutional investors despite weak global cues.

The dollar struggled near a 13-month low against a basket of major currencies on Monday as US political woes dampened hopes for quick passage of President Donald Trump's stimulus and tax reform agendas.

The Trump administration, already dogged by investigations into alleged Russian meddling in the US election, took a fresh hit on Friday after White House spokesman Sean Spicer resigned, highlighting an upheaval within the president's inner circle.

The dollar index against a group of six currencies was little changed at 93.854, after touching 93.847, its lowest since June 2016.

Published on July 24, 2017
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