Ru­pee ex­tends gains for 2nd day, up 7p vs dol­lar

The Financial Express - - MONEY & MARKETS -

Mum­bai, March 28: The ru­pee ex­tended its gains for the sec­ond day on Mon­day against the US cur­rency, mov­ing up by 7 paise to close at 66.57 a dol­lar even as stock mar­kets fell.

Fag-end sell­ing of dol­lars by banks and ex­porters in view of per­sis­tent for­eign cap­i­tal in­flows helped the In­dian cur­rency ex­tend gains, deal­ers said.

The ru­pee re­sumed sharply lower at 66.90 per dol­lar as against last Wed­nes­day’s clos­ing level of 66.64 at the In­ter­bank For­eign Ex­change (Forex) mar­ket here.

How­ever, it re­cov­ered af­ter­wards to 66.56 per dol­lar on fresh sell­ing of dol­lars by banks and ex­porters in view of good for­eign cap­i­tal in­flows be­fore end­ing at 66.57 per dol­lar, show­ing a gain of 7 paise or 0.11%.

It had gained 7 paise in the last ses­sion on Wed­nes­day. Forex mar­kets were closed on Thurs­day and Fri­day on ac­count of Holi and Good Fri­day.

For­eign funds (FPP and FIIs) con­tin­ued their buy­ing spree as they bought shares worth Rs 976.91 crore on last Wed­nes­day as per the pro­vi­sional data of stock ex­changes.

Also, the dol­lar index was down 0.02% against a bas­ket of six cur­ren­cies in the late af­ter­noon trade.

In for­ward mar­ket, premium for dol­lar con­tin­ued to fall due to per­sis­tent re­ceiv­ings from ex­porters.

The bench­mark six­month premium for Au­gust ended lower 201-203 paise from 202-204 on last Wed­nes­day and far for­ward Fe­bru­ary 2017 con­tract moved down to 404-406 paise from 406-408 paise. PTI

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.