Forex tips: The rupee declined by 33 paise to 63.65, lowest since December 30, against the US dollar in trade today at the Interbank Foreign. Exchange on renewed demand for the American currency from banks and importers amid foreign capital outflows in the equity market. Besides, a lower opening in the domestic equity market weighed on the local currency but the dollar's weakness against other currencies overseas capped the rupee's losses, forex dealers said. The rupee had plummeted to over three-month low of 63.32 by losing 50 paise against the US dollar in yesterday's trade on renewed demand for the American currency from banks and importers amid foreign capital outflows in the equity market.
Sterling hits 5-week high vs dollar
Sterling rose to a five-week high against the dollar on Friday, joining a global push against the greenback and exposing the running assumption that uncertainty ahead of the UK general election is a mounting risk for the pound. Hedge funds were said to be among those buying sterling, which was on track for a 1 percent rise on the week and its biggest two-week gain against the dollar since the immediate aftermath of Britain's last general election five years ago. In early trading on Friday sterling was 0.6 percent higher at $1.5140, its highest since March 18. Last week, it was trading at a five-year low of $1.4580.
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