 "Rupee ends lower by 7p; ends gaining streak")
The rupee on Friday snapped its two-day gaining streak against the dollar, by losing seven paise to end at 62.37 on fresh demand for the American currency from importers amid a fall in global crude oil prices.
The rupee opened slightly lower at 62.33 at the interbank foreign exchange market against the previous closing level of 62.30, and hovered in a tight range of 62.30 and 62.39 before concluding at 62.37.
It had gained 21 paise in the previous two days.
The greenback tracked the overnight weak tone against the yen - which followed downbeat initial jobless claims in the US - but remained trapped in an extremely tight range, given a lack of fresh cues.
Amid thin liquidity, investors avoided making major moves especially after a series of soft economic data in the US
The rupee opened slightly lower at 62.33 at the interbank foreign exchange market against the previous closing level of 62.30, and hovered in a tight range of 62.30 and 62.39 before concluding at 62.37.
It had gained 21 paise in the previous two days.
Also Read
In the Asian markets, the dollar drifted lower against the yen and the euro today, as a lack of fresh trading cues made investors reluctant to take lopsided, strong positions ahead of the weekend.
The greenback tracked the overnight weak tone against the yen - which followed downbeat initial jobless claims in the US - but remained trapped in an extremely tight range, given a lack of fresh cues.
Amid thin liquidity, investors avoided making major moves especially after a series of soft economic data in the US
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%