The rupee ended at 61.86 per dollar as against the last weekend's level of 61.42, showing a gain of 44 paise or 0.73 percent. It moved in a range of 61.29 and 62.0350 per dollar during the week. The domestic currency had gained by 215 paise or 3.38 percent in the previous four weeks.
The Indian rupee snapped its 4-week winning spree against the American currency, slipping 44 paise to 61.86 per dollar on month-end dollar demand from importers and banks. The rupee resumed slightly lower at 61.49 per dollar as against the last weekend's level of 61.42 and fell further to 62.03 on good dollar demand from importers and some banks.
However, it recovered afterwards to 61.29 on selling of dollars by exporters in view of strong foreign capital inflows into equity market as foreign portfolio investors (FPIs) infused a net USD 779.85 USD million during the week as per SEBI's record.
The rupee ended at 61.86 per dollar as against the last weekend's level of 61.42, showing a gain of 44 paise or 0.73 percent. It moved in a range of 61.29 and 62.0350 per dollar during the week. The domestic currency had gained by 215 paise or 3.38 percent in the previous four weeks.
Meanwhile, the Indian benchmark sensex dropped by 95.89 points or 0.33 percent to 29,182.95 after hitting an all-time high of 29,844.16. Pramit Brahmbhatt, Veracity Group CEO said," After appreciating for four weeks last week Rupee lost its way and depreciated by one percent during the week. The month end dollar demand from oil importers and corporates forced Rupee to trade weak and close at 61.86".
Also the local equities lost its ground last week and posted first weekly loss in three weeks which further dented the movement of Rupee.
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