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Rupee ends 10 paise down Vs dollar

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Press Trust of India Mumbai
Last Updated : Jan 20 2013 | 2:49 AM IST

In a volatile trade, the rupee fell by 10 paise to close at nearly two-week low of 53.07/08 against the US currency following good dollar demand from importers amid weak local stocks.

Continued capital inflows, however, capped the downslide to certain level, a dealer said.

In a see-saw trade at the Interbank Foreign Exchange (Forex) market, the domestic unit opened sharply lower at 53.35/36 a dollar against last close of 52.97/98.

Later it went further down to the day's low of 53.51 on sluggish local stocks amid dollar buying by importers, mainly oil refiners, to meet their month-end requirements.

Strong dollar overseas too weighed on the rupee. The dollar index, a gauge of six major currencies, was up by about 0.15% while New York crude was trading below $100 a barrel in European market today.

However, late dollar selling by exporters and some banks pulled the rupee up to a high of 52.98 before settling at 53.07/08.

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Sustained capital inflows too helped the rupee recovery at the fag end. FIIs pumped in $181.36 million in straight four sessions since December 23.

The BSE benchmark Sensex today closed down by almost 184 points, or 1.17%, extending losses for the straight third day.

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First Published: Dec 29 2011 | 6:38 PM IST

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