The rupee was trading a tad weak at 63.56 owing to month-end dollar demand from banks and importers. However, record inflows into the domestic equity market capped the rupee’s fall.
The domestic unit opened weak at 63.60 at the Interbank Foreign Exchange market today. It hovered in a range of 63.62 and 63.48 before quoting at 63.56, down 1 paise at 4.45 pm local time.
In the overseas market, the dollar crawled up from lows but struggled to pull ahead from six straight weeks of losses on its evaporating yield advantage and doubts about Washington's commitment to a strong currency.
On Thursday, the rupee had gained 14 paise to end at a fresh one-week high of 63.55 a dollar. Foreign investors had infused $137.90 million into domestic equities on Thursday. The forex market was closed on Friday for the ‘Republic Day’ holiday.
Meanwhile, the S&P BSE Sensex ended higher by 232.81 points or 0.65 per cent at 36,283.25, after earlier climbing as much as 1.09 per cent to an all-time high of 36,443.98.
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