Rupee ends lower at 44.23/25 a dollar
The rupee on Tuesday ended lower at 44.23/25 per dollar in volatile trade at the Interbank Foreign Exchange (forex) market on good dollar buying by banks and central bank's intervention, forex dealers said.
By PTI |
MUMBAI: The rupee on Tuesday ended lower at 44.23/25 per dollar in volatile trade at the Interbank Foreign Exchange (forex) market on good dollar buying by banks and central bank's intervention, forex dealers said.
Moving in a range of 44.15-44.27, the Indian unit was under pressure throughout also due to extremely weak equity market, where the benchmark BSE Sensex tumbled by 168 points at close. The rupee had on Monday closed at 44.18/19 a dollar.
Consistent dollar demand from banks on behalf of oil companies and Reserve Bank of India (RBI) intervention at the rupee's higher levels weighed down the rupee sentiment, a forex dealer said.
A rise in global oil prices Monday attracted dollar purchases by oil companies, a banker said.
Oil prices rose past $52 a barrel level in New York on Modnay and remained above this level even in Asian trade during the day on Tuesday.
The central bank was believed to be supporting dollar to a certain extent, capping any rupee surge in favour of exporters, a dealer from a leading foreign bank said.
Foreign Institutional Investors (FIIs) pumped in about USD 85 million between January 16-19, but the inflows were relatively slow, according to forex dealers.
Moving in a range of 44.15-44.27, the Indian unit was under pressure throughout also due to extremely weak equity market, where the benchmark BSE Sensex tumbled by 168 points at close. The rupee had on Monday closed at 44.18/19 a dollar.
Consistent dollar demand from banks on behalf of oil companies and Reserve Bank of India (RBI) intervention at the rupee's higher levels weighed down the rupee sentiment, a forex dealer said.
A rise in global oil prices Monday attracted dollar purchases by oil companies, a banker said.
Oil prices rose past $52 a barrel level in New York on Modnay and remained above this level even in Asian trade during the day on Tuesday.
The central bank was believed to be supporting dollar to a certain extent, capping any rupee surge in favour of exporters, a dealer from a leading foreign bank said.
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Foreign Institutional Investors (FIIs) pumped in about USD 85 million between January 16-19, but the inflows were relatively slow, according to forex dealers.
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