Rupee depreciates against US dollar
Rupee depreciated 2 paise to settle the session at 63.77 against dollar on Thursday.
By ET Online |
NEW DELHI: Rupee depreciated 2 paise to settle the session at 63.77 against dollar on Thursday, tracking firm gains in the greenback against major world currencies.
Data released overnight showed that the US services sector expanded at its fastest pace in 10 years, raising the chances of rate hike by the Federal Reserve in its September policy review.
US Markit services PMI rose to 55.7 in July from June’s five-month low of 54.8.
The local unit had somehow managed to settle against against the greenback at 67.75 yesterday after falling to 63.93 level in earlier trades, after Atlanta Federal Reserve President Dennis Lockhart expressed his support for an interest rate hike in the Fed's next policy review.
Lockhart is a voter on the Federal Open Market Committee.
Dollar index, which tracks the movement of dollar against a trade-weighted basket of six major world currencies, stood at 98.
Data released overnight showed that the US services sector expanded at its fastest pace in 10 years, raising the chances of rate hike by the Federal Reserve in its September policy review.
US Markit services PMI rose to 55.7 in July from June’s five-month low of 54.8.
The local unit had somehow managed to settle against against the greenback at 67.75 yesterday after falling to 63.93 level in earlier trades, after Atlanta Federal Reserve President Dennis Lockhart expressed his support for an interest rate hike in the Fed's next policy review.
Lockhart is a voter on the Federal Open Market Committee.
Dollar index, which tracks the movement of dollar against a trade-weighted basket of six major world currencies, stood at 98.
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