The rupee skidded 6 paise to finish at 69.23 per US dollar on Friday, largely owing to increasing demand for the greenback from importers. Forex traders said strengthening of the dollar against key currencies overseas also kept the rupee under pressure, though persistent foreign fund inflows restricted the fall.

At the Interbank Foreign Exchange (forex) market, the domestic unit opened at 69.11. It moved in a range of 69.33 to 69.05 before finally ending at 69.23, down 6 paise over its previous close. 

The rupee had plunged 76 paise Thursday to close at 69.17 after the RBI cut the key interest rate but kept its monetary policy stance ‘neutral’. During the week, the rupee lost 9 paise. This is the second consecutive week of loss for the local currency.

The 30-share BSE Sensex climbed 177.51 points, or 0.49 per cent, to close at 38,862.23, while the broader NSE Nifty rose 67.95 points, or 0.59 per cent, to 11,665.95. 

Published On : 06-04-2019

Source : Mumbai Mirror