Rupee records 1st fall in 3 days, slips 5 paise to 64.61

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Breaking its uptrend of two consecutive sessions, the rupee on Friday dipped 5 paise to 64.61 per dollar, due to demand surge for the American currency, and continuous capital outflows.



Breaking its uptrend of two consecutive sessions, the rupee on Friday dipped 5 paise to 64.61 per dollar, due to demand surge for the American currency, and continuous capital outflows.
Consistent demand for the dollar from the foreign funds predominantly weighed on the rupee.
FPI had sold shares worth Rs 168.84 crore on Thursday, as reported by SEBI.
RBI governor, Urjit Patel informed the MPC that there is space for banks to trim interest rates while sounding a note of caution on the inflation front over the coming months.
The rupee opened substantially weak at 64.65, against the overnight closing value of Rs 64.64 at the Interbank Foreign Exchange Market, and on fresh bouts of dollar demand from importers and corporates.
In cross-currency trade, the Rupee advanced further against the pound sterling to end at 82.55 from 82.57 per pound, and recovered against the euro to finish at 69.16 compared to 69.37 earlier.

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