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Rupee trims early losses, down by 8 paise vs USD

Press Trust of India  |  Mumbai 

The rupee trimmed its early losses against the dollar and was trading 8 paise down at 64.08 in late morning deals.

A sustained bouts of dollar demand from banks and importers kept the rupee under pressure, currency traders said.

The rupee resumed sharply lower by 17 paise at 64.17 per dollar against Wednesday's closing level of 64.00 per dollar at the market.

The domestic currency hovered in a range of 64.17 and 64.07 before quoting at 64.08 per dollar at 1100 hrs.

At overseas, the dollar held steady near a four-week high against the yen, with traders looking to US consumer data later in the day for clues on the possible timing of the Federal Reserve's next rate rise.

The dollar index against a basket of six major currencies was trading up 0.07 per cent at 92.47.

Meanwhile, the benchmark was trading higher by 115.49 pts or 0.36 pct at 32,301.90 at 1030hrs.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, September 14 2017. 11:22 IST