Rupee pares early gains, down 5 paise vs USD

Date:

spot_imgspot_img
Mumbai, May 24 (PTI) The rupee pared its early gains to trade down by 5 paise at 64.94 against the dollar on emergence of demand for the US currency from importers and banks despite higher local equities.
The rupee resumed lower at 64.91 per dollar as against the yesterday’s closing level of 64.89 per dollar at the Interbank Foreign Exchange (Forex) Market.
Later, it recovered on dollar selling by banks to 64.80 before falling again to 64.94 at 1100 hrs.
The domestic unit hovered between 64.95 and 64.80 during morning deals.
Meanwhile, the dollar index was up by 0.06 per cent at 97.40 against a basket of six global currencies in the global market.
Overseas, the dollar held firm against its major rivals in early Asian trade helped by a rise in US Treasury yields, while the yuan eased after Moody’s cut its sovereign rating on China due to concerns over the country’s soaring debt.
Meanwhile, the benchmark BSE Sensex rose by 132.27 points or 0.44 per cent at 30,497.52 in late morning trade. PTI
spot_imgspot_img

Related articles

Pyngrope named Opp Chief Whip

By Our Reporter SHILLONG, Sep 17: TMC MLA from Nongthymmai, Charles Pyngrope has been recognised as the Opposition Chief...

News Capsule

Convocation William Carey University, Meghalaya, held its 5th convocation on Tuesday, during which degrees were conferred on PhD, postgraduate...

Changing weather conditions driving H3N2 cases in Delhi-NCR: Experts

New Delhi, Sep 17: Changing weather conditions are driving influenza A strain H3N2 cases in Delhi-NCR, said health...

Indian Army restores vital road connectivity in J&K’s Ramban with 150-foot reinforced Maitra Bridge

Jammu, Sep 17: Days after heavy rainfall created havoc in several districts of J&K's Jammu region, including Ramban,...