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Rupee dips over dollar demand

By Religare

The Indian rupee depreciated by 0.18 paise to Rs 62.75 against the US dollar on Tuesday as a result of appreciation of the American currency overseas as well as fresh demand for the dollar from importers. However, a higher opening in the domestic equity market limited the rupee's losses. The Reserve Bank of India is widely expected to maintain status quo on key interest rates at its first bi-monthly Monetary Policy for 2015-16 after announcing two rate cuts since the beginning of this calendar year. At MCXSX, USDINR for April 2015 contract traded at Rs. 62.6075 per dollar, rupee depreciated by 0.18 paise, after opening at Rs. 62.5000 against the previous closing price of Rs. 62.4925. Rupee declined to Rs. 62.6450 per dollar with a business volume of 351563 lots till the trading. (At 11.47 AM today).


At the Chicago Mercantile Exchange (CME), EURUSD future traded at US$1.0927 per euro (USD appreciated by 0.07 per cent against EUR) and GBPUSD future traded at US$1.4915 per pound (USD depreciated by 0.18 per cent against GBP) (At 11.49 AM today).

S&P CNX NIFTY, at NSE, was trading at 8,642, down by 0.21 per cent, after opening at 8,684.45 against the previous closing of 8,659.90. It touched the intra-day high of 8,613.40 till the trading. (At 11.47 AM today).

Story first published: Tuesday, April 7, 2015, 23:00 [IST]
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