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Rupee extends losses by 14 paise to 67.88 per dollar

Earlier, the Indian rupee opened lower by 10 paise at 67.84 as against Monday's closing of 67.74.

The rupee slipped further by 14 paise to 67.88 against the US currency in late morning deals following bouts of month-end dollar demand from banks and importers amid continued capital outflows.

Earlier, the Indian rupee opened lower by 10 paise at 67.84 as against Monday’s closing of 67.74 at the Interbank Foreign Exchange (Forex) Market.

The domestic unit hovered between 67.88 and 67.8150 per dollar during morning deals before quoting at 66.88 per dollar at 1025 hrs.

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“The year-end markets are very low on liquidity and continue to trade in a tight range with the dollar index hovering around 103 levels,” a forex dealer said.

“The rupee continues to trade in a very narrow range, despite continued FII’s outflows,” he further said.

Festive offer

The dollar index, which tracks the greenback against a basket of six global peers, added 0.08 per cent to 103.09, half a percent below the highest level since December 2002 hit a week ago.

The dollar inched up against yen and euro today as some investors emerged out of the holiday lull to hunt for bargains as the market entered the last trading stretch of the year.

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Meanwhile, the benchmark Sensex was up by 110.64 points or 0.43 per cent to 25,917.74 at 1030hrs.


 

First uploaded on: 27-12-2016 at 11:04 IST
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