Rupee at 42.96 against US dollar

ruled steady against the rupee at Rs 42.96/97 per dollar at the close of the Interbank Foreign Exchange (Forex) market in Mumbai on Tuesday.

There was some dollar demand at the later part of the day as the global crude oil prices once again rose near $137 a barrel in Asian trade.

Persistent capital outflows also weighed on the rupee in later part of the stage. Foreign Institutional Investors (FIIs) withdrawn over $6 billion in the current calendar year so far.

The RBI on Tuesday fixed reference rate for US dollar at Rs 42.94 and for single European unit at Rs 66.73.

In cross currency trades, the rupee reacted downwards against the British Sterling and the Euro while it improved further against the Japanese yen.

The domestic unit fell back against the pound sterling to end the day at Rs 84.47/49 per pound from Monday’s close of Rs 84.27/29 per pound and also declined against the single European currency to Rs 66.80/82 per euro from last close of Rs 66.70/72 per euro.


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