INSUBCONTINENT EXCLUSIVE:
The RBI fixed reference rate for dollar at 67.3353 and for the euro at 79.5230.
Snapping two
consecutive sessions of decline, the rupee today staged a recovery to close 8 paise higher at 67.42 against the US currency on fresh bouts
of dollar selling by exporters and corporates
Weakness in US dollar amidst slight reversal in US treasury yields also helped the domestic currency recoup some losses
The Indian currency had ended at a fresh one-week low of 67.50 last week due to hardening worries over rising global crude prices and
sustained capital outflows
Gains in most Asian peers ahead of the crucial meeting tomorrow between the US President Donald Trump and North Korean leader Kim Jong Un
also weighed on the trade, even as investors cautiously await policy decisions from three major central banks this week
10 things to know aboutThe rupee touched a high of 67.28 in early trade before giving back some gains
Though, the overall forex mood remained cautiously ahead of the key central banks monetary policy decisions particularly the Federal Open
The Fed is set to raise the interest rate on Wednesday after the FOMC Meeting minutes from the May meeting consisted of the words "it will
entering bull market, largely pulled down by rising Russian production and the highest US drilling activity in more than three years, but
equity markets in the last six trading sessions on the back of easing of global crude oil prices and revival in corporate
interbank foreign exchange (forex) market
It extended gains against the dollar in mid-afternoon deals on greenback sales by foreign banks, likely on behalf of their custodian
reference rate for the dollar at 67.3353 and for the euro at 79.5230
The dollar index, which measures the greenback's value against a basket of six major currencies, was up at 93.58
In the cross currency trade, the rupee also recovered against the pound sterling to end at 90.03 per pound from 90.40 and also bounced back
weak to steady trend owing to lack of market moving factors
The benchmark six-month forward premium payable in October softened to 109-111 paise from 109.50-111.50 paise, while the far-forward April
is published from a syndicated feed.)
