News Details
Category : industry
Headline : Rupee drops 16 paise to 73.64 on dollar buying by banks
Date: 15/09/2020 17:36
The rupee pared early gains to settle 16 paise lower at 73.64 against the US dollar on Tuesday due to dollar buying by banks and oil importers. The rupee had opened higher at 73.33 but later lost ground to touch a low of 73.72 due to high dollar demand.

Forex traders said the rupee ended lower due to dollar purchases by state-run banks likely on the behalf of the RBI. The central bank has turned a dollar buyer to offset the impact of portfolio inflows, they added.

The rupee moved between 73.33 and 73.72 in the day trade before closing at 73.64. The rupee had closed at 73.48 on Monday.