Rupee loses against dollar on fresh buying by exporters and banks

Forex tips

The rupee depreciated against the US dollar in trade today and hit day's low of 62.88 at the Interbank Foreign Exchange on fresh buying of the American currency by exporters and banks. Earlier, a higher opening in domestic stock market and passage of the Insurance Bill in Parliament supported the rupee, forex dealers said. The rupee had gained 28 paise to close at 62.50 against the Greenback in yesterday's trade, in line with smart recovery in local equities and fresh dollar selling by exporters.

Sterling pinned to 20 month low versus dollar, BoE Governor Mark Carney's comments hurt

Sterling traded near its lowest in 20 months against the dollar on Friday and on track for its second straight week of losses, hurt by Bank of England Governor Mark Carney's comments that he was in no rush to raise interest rates. Sterling was trading at $1.4850, having fallen to $1.4845 earlier in the day. The euro was down 0.15 per cent at 71.36 pence, with the single currency back under pressure, due to the one-trillion euro asset purchase programme launched by the European Central Bank earlier this week.

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