Mumbai: The Indian rupee depreciated further from its initial losses by 11 paise to 66.44 in late-morning deals on Tuesday following sustained bouts of dollar demand from banks and importers amid volatile equities.
The domestic unit resumed lower at 66.35 per dollar as against Monday’s closing of 66.33 at the Interbank Foreign Exchange (Forex) market. It hovered in a range of 66.44 to 66.33 during the morning deals before quoting at 66.45 per dollar at 1102 hours.
Overseas, in New York, the US dollar ended lower against its major rivals late on Monday as investors wagered that the Federal Reserve will keep key interest rates unchanged this month, but fears that the central bank might surprise the market played on investors’ minds.
The dollar index is currently down 0.04 per cent at 95.23 against a basket of six currencies. Meanwhile, the benchmark BSE Sensex was trading lower by 49.19 points, or 0.19 per cent, at 25,807.51 at 1105 hours.
Bureau Report
Leave a Reply