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Rupee declines
MUMBAI,
APRIL 8.
The rupee today lost moderate ground against the U.S. currency on renewed dollar demand from banks following a resurgent dollar overseas even as sentiments remain positive due to a slide in global oil prices amidst resumption of steady foreign fund inflows.
In yet another session of quiet and range-bound trade at the interbank foreign exchange market, the rupee closed at 43.76/77 a dollar, a 3-1/2 paise decline from Thursday's finish of 43.7250/7350 following a weak start at 43.75/76 a dollar.
The rupee came under renewed pressure owing to dollar short-covering by banks for their corporates clients, fuelled by the dollar's overseas rally against major rivals, mainly the Euro, dealers said.
— PTI
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