Bookmark Kaumudi Online  Bookmark this site  Editor@Kaumudi  |  Marketing  Print Advt rates  |  Calendar 2018        Go!    
 
 
June 23, Saturday 2018 7:39 PM       

       HEADLINES: Tried to meet PM several times, but in vain: Pinarayi                                              Varappuzha: Policeman arrested for taking bribe to hospitalise Sreejith                                              Syro Malabar church: New administrative for compromise talks                                              Move on for settling Ganesh Kumar's road rage case                                              Abuse on social media: Action on Nisha Jose K Mani's complaint                                              Teased for dark skin, woman poisons food at family function                                              UP: Infant crushed to death by father                                              Senior Congress leader Danam Nagender resigns                                              President Kovind highlights importance of South-South cooperation                                              India, Cuba to enhance cooperation in various fields                                              Radicals will soon be central to Pak democracy debate                                              FIFA WC: Musa helps Nigeria beat Iceland 2-0                                              FIFA WC: Shaqiri's last-minute stunner earns Switzerland 2-1 win over Serbia                                              Kaumudi Facebook
       BUSINESS Next Article: Prez Kovind dedicates AP Fiber Grid, drone project to nation  
       Rupee hits 1-week low, down 7 paise at 64.15
 
         Posted on :23:26:42 Dec 27, 2017
   
A A
       Last edited on:23:26:42 Dec 27, 2017
         Tags: Rupee hits 1-week low, down 7 paise at 64.15
 
MUMBAI: The rupee today drifted further down by 7 paise to end at a fresh one-week low of 64.15 against the US dollar due to month-end demand for the American currency from importers and banks.
 
Sustained capital outflows and a sudden spike in crude oil prices globally too largely weighed on the forex market, though sluggish dollar overseas capped the losses.
 
Weak local equities also added to volatility.
 
This is the lowest closing for the home currency since December 18.
 
Most Asian currencies edged higher against the US dollar amid light trade across markets worldwide due to the year-end holiday period.
 
Crude prices surged to a fresh 2-1/2 year high boosted by news of an explosion on a Libyan crude pipeline as well as voluntary OPEC-led supply cuts.
 
Brent crude, an international benchmark, is trading at USD 66.08 a barrel in early Asian trade.
 
Meanwhile, domestic equities succumbed to modest profit- taking after hitting fresh record highs in early trade dragged by state-owned bank, auto and FMCG stocks amid some caution ahead of derivatives expiry tomorrow.
 
The benchmark sensex dropped 99 points to end at 33,911.81, while Nifty fell 41 points at 10,490.75.
 
At the Interbank Foreign Exchange (forex) market, the rupee opened a tad higher at 64.06 from overnight close of 64.08 tracking firm local equities.
 
But, it drifted gradually to hit an intra-day low of 64.18 in mid-morning deals on month-end dollar demand from importers and corporates.
 
After regaining some lost ground, the local unit finally settled at 64.15, revealing a loss of 7 paise, or 0.11 per cent.
 
The RBI, meanwhile, fixed the reference rate for the dollar at 64.1577 and for the euro at 76.2258.
 
The dollar index, which measures the greenback's value against a basket of six major currencies, was down at 92.58 in early trade.
 
In cross-currency trades, the rupee fell back against the pound sterling to settle at 86.06 from 85.59 per pound and dropped against the euro to finish at 76.27 from 75.95 earlier.
 
The home unit remained weak against the Japanese yen to end at 56.66 per 100 yens from 56.56.
 
Elsewhere, the common currency euro and British pound traded little changed against the US currency heading into the final week of 2017 with firm fundamentals supporting it.
 
In forward market today, premium for dollar displayed a steady trend in the absence of any market moving factors.
 
The benchmark six-month premium payable in May and the the far forward October 2018 contract was quoted at 116-118 paise and 250-252 paise, respectively.
A A
       BUSINESS
Next Article: Prez Kovind dedicates AP Fiber Grid, drone project to nation
 
 
BUSINESS HEADLINES
FICCI awarded at X International IT Forum, Russia  
Lenovo India names Pankaj Harjai as Director-Tablets  
Adani Transmission acquires 100% equity in Ghatampur SPV  
Air India set to have 'Maharaja' class seats on international flights  
Sensex gets a buying lift, up 123 pts; RIL at new high  
Aviation Ministry committed to strategic disinvestment of Air India  
Exempted sectors should come under GST: Arvind Subramanian  
Bajaj Finserv offers pre-approved personal loan to customers  
US dollar ends cheaper against rupee  
Pradeep Parameswaran appointed Uber President- India, South Asia  
Google announces training programme for journalists  
Sensex tanks 261 pts as US-China trade spat escalates  
US dollar ends higher against rupee  
WhatsApp Payments to be rolled out soon: here is how it's different from competition  
Ayushman Bharat: Only half the states ready to launch scheme on August 15; UP Bihar & West Bengal not prepared yet  
Audi boss arrested over diesel scandal  
India, US officials to meet soon to discuss concerns of both sides: Prabhu  
Rupee dives to 3-week low at 68.01 on macro-liquidity shocks  
Gold rises on mild demand, silver surges for 8th session  
AFT directs govt to remove anomaly in HRA  
Grand Finale of Smart India Hackathon from June 18-22  
GST refund drive extended till June 16  
Ind-Swift Laboratories raises Rs 424.5 crore via NCDs  
RBI needs more powers to oversee PSB: Guv to panel  
RBI Guv appears before Par panel; assures steps to strengthen banking system  
 
Should Yoga be made compulsory in all schools?
Yes
 
No
 
No opinion
 
 
 
Home Kerala India World Business Sports Sci&Tech Education Automobile CityNews Movies Environment Letters 
© Copyright keralakaumudi Online 2011  |  Reproduction in whole or in part without written permission is prohibited.
Head Office Address: Kaumudi Buildings, Pettah P.O, Trivandrum - 695024, India.
Online queries talk to Deepu Sasidharan, + 91 98472 38959 or Email deepu[at]kaumudi.com
Customer Service -Advertisement Disclaimer Statement   |  Copyright Policy