Rupee falls back by 19 ps Vs dlr to end at 54.36
Mumbai, Mar 26 (PTI) In a dull today trade, the Indian rupee fell back by 19 paise to close at 54.36 against the Greenback on fresh month-end dollar demand from importers amid some hesistancy in local equities.
However, persistent foreign funds inflow in share markets and weak dollar overseas restricted the rupee fall.
The rupee resumed lower at 54.25 a dollar, which was also to be the day''s high, from previous close of 54.17 at the Interbank Foreign Exchange (Forex) on early weakness in domestic stocks and renewed dollar demand from importers, mainly oil refiners to meet their month-end requirements.
It later moved down to a low of 54.41 before settling at 54.36, revealing a fall of 19 paise or 0.35 pct. Yesterday, it had risen by 16 paise or 0.29 pct.
The Indian benchmark S&P Sensex today broke its 7-session of losing string and closed up by 23.11 points or 0.12 pct while FIIs infused Rs 717.89 crore in equities yesterday, as per provisional data with stock exchanges.
Following recovery in the euro, the dollar index was down by 0.10 pct ahead of the release of a slate of U.S. economic data later in the day.
Mr. Pramit Brahmbhatt, CEO, Alpari Financial Services (India) said,"Rupee ended weak today on month-end dollar demand. Looking at the global scenario expect rupee to trade weak with Political uncertainty which was also reflected in the weak local equities. Expect USDINR to trade near 54.50 (spot), the trading range for the same is expected between 54.20 - 54.70. .
Vasundhara Raje, who spearhead BJP's spectacular comeback to power in Rajasthan, took oath as State Chief Minister. Governor Margaret Alva administered the oath of office and secrecy to Vasundhara Raje.
Date 20 hrs ago, Duration 2:00, Views 87