Mumbai : After three days of rise, the rupee on Tuesday fell by 5 paise to end at 67.18 on fresh dollar demand from banks and importers in spite of sustained rally in domestic capital market. Firm equity market failed to restrict the rupee’s fall against the dollar, a forex dealer said.
The rupee opened lower at 67.l650 as against the last closing closing level of 67.13 at the Interbank Foreign Exchange (Forex) market and dropped further to 67.1975 before closing at 67.18 per dollar, showing a loss of 5 paise or 0.07 per cent. The rupee had gained by 32 paise or 0.47 per cent in the previous three trading days. The domestic unit hovered in a range of 67.1975 and 67.10 during the day. The dollar index was trading lower by 0.33 per cent against a basket of six currencies in the late trade.
Meanwhile, the RBI fixed the reference rate for the dollar at 67.1471 and euro at 74.4460. In cross-currency trades, the rupee moved down against the pound sterling to end at 88.27 from 87.19 yesterday and also fell against the euro to 74.46 from 74.20.
