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Rupee snaps 3-day winning streak, down 2 paise at 67.15/$ |
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NEW DELHI: Snapping a three-day winning streak, the rupee fell 2 paise to 67.15 against the US dollar in early trade on Tuesday, tracking weakness across major Asian currency markets.
The domestic currency had climbed 24 paise to settle at a more than 3-week high of 67.13 on Monday amid persistent dollar selling by bank and exporters.
Riding on the recent set of strong jobs data, US stocks hit a record high in overnight trade, with the benchmark S&P500 closing at a record 2,137, overtaking the previous high of 2,130 hit on May 21, 2015. US WTI crude, on the other hand, settled 1.43 per cent, or 65 cents, lower at $44.76 per barrel, the lowest settle since May 10.
"Evolving shifts in the global risk appetite will continue being a dominant factor for investors' focus, determining the rupee trajectory through the week. The rupee will consolidate its gains and continue its momentum, trading in 67.45-66.75 range," said India Ratings in a note.
The dollar index, which measures the movement of dollar against a basket of six major world currencies, stood at 96.33, down 0.24 per cent.
Among Asian currencies, the Indonesian rupiah was trading 0.57 per cent lower at 13,155 against the US dollar. The Korean won (down 0.46 per cent), the Japanese yen (down 0.37 per cent), the Philippine Peso (down 0.36 per cent) and the Malaysian ringgit (down 0.19 per cent) and the Taiwanese dollar (down 0.05 per cent) were trading lower during the session.
The rupee has depreciated 1.45 per cent so far this calendar and has been the second worst performing Asian currency after the Chinese yuan (down 3 per cent).
Source : economictimes.indiatimes.com
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