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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.
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
