I forex News - Snapping its two-day winning spree against the American currency, the rupee on Wednesday dropped 10 paise to end at 66.59 on renewed demand for the dollar from banks and importers amid higher greenback overseas.
The Domestic currency today resumed lower at 66.52 as against yesterday's closing level of 66.49 at the Interbank Foreign Exchange market and dropped further to 66.67 per dollar before ending at 66.59, showing a loss of 10 paise or 0.15 percent.
The Rupee had gained 27 paise, or 0.40 percent, in the previous two days.The domestic currency moved in a range of 66.46 and 66.67 per dollar during the day.The dollar index was higher by 0.26 percent against a basket of six currencies in the late afternoon trade.
In the overseas market, the dollar was slightly higher against the yen and the euro today, as investors awaited key events later this week such as the US jobs data.
Although investors have already increased their bets that the US Federal Reserve will start raising rates in the middle of this month, the pace of dollar purchases has slowed after a downbeat US manufacturing report hinted at gradual US rate increases next year.
The Domestic currency today resumed lower at 66.52 as against yesterday's closing level of 66.49 at the Interbank Foreign Exchange market and dropped further to 66.67 per dollar before ending at 66.59, showing a loss of 10 paise or 0.15 percent.
The Rupee had gained 27 paise, or 0.40 percent, in the previous two days.The domestic currency moved in a range of 66.46 and 66.67 per dollar during the day.The dollar index was higher by 0.26 percent against a basket of six currencies in the late afternoon trade.
In the overseas market, the dollar was slightly higher against the yen and the euro today, as investors awaited key events later this week such as the US jobs data.
Although investors have already increased their bets that the US Federal Reserve will start raising rates in the middle of this month, the pace of dollar purchases has slowed after a downbeat US manufacturing report hinted at gradual US rate increases next year.
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