Rupee continues decline, at 55.34/dollar

Declines for the fourth day in a row on sustained dollar demand from importers

The Indian rupee continued to decline against the dollar for the fourth consecutive day by slipping another 13 paise to 55.34 on sustained demand of the American currency from banks and importers.

The rupee resumed slightly higher at 55.20 per dollar as against the last closing level of 55.21 at the Interbank Foreign Exchange (Forex) Market and hovered in a range of 55.20 and 55.36, before quoting 55.34 at 1040 hrs.

In Frankfurt, the euro continued to push higher versus most major rivals in thin trade amid the US Thanksgiving Day holiday, notching a nearly seven-month high versus a broadly weaker Japanese yen after an encouraging round of Chinese data lifted overall risk appetite.

 

Meanwhile, the Indian benchmark 30-share index, Sensex, moved up by 12.72 points of 0.07% to 18,530.06 at 1050 hrs.