Rupee ends 2 paise lower at 63.60

Mumbai
30 Jan 2018

The rupee Tuesday staged a spirited recovery from its early sell-off and ended modestly lower by 2 paise at 63.60 against the US dollar.
The domestic currency market largely withstood the global bonds meltdown as well as the sell-off in local bourses.
The Indian unit touched a fresh one-week low of 63.79 in early trade before recovering lost ground.
It traded in a tight range between 63.79 and 63.59 with negative bias most part of the session.
Sustained month-end demand from banks and importers predominantly weighed on the domestic unit even as traders await cues from the US Fed policy meet outcome.
Overall forex sentiment remained little shaky after the Economic Survey warned that a pause in general government fiscal consolidation relative to 2016-17 cannot be ruled out.
Meanwhile, domestic markets took a broad knock and retreated sharply from their record highs amid caution ahead of the Union Budget this week.
Most Asian bourses ended deep in the red reacting to a sharp fall on Wall Street.
The benchmark BSE Sensex tumbled 250 points to end at 36,033.73, while the Nifty slumped almost 81 points to 11,049.65.Mumbai, Jan 30 (PTI) The rupee Tuesday staged a spirited recovery from its early sell-off and ended modestly lower by 2 paise at 63.60 against the US dollar.
The domestic currency market largely withstood the global bonds meltdown as well as the sell-off in local bourses.
The Indian unit touched a fresh one-week low of 63.79 in early trade before recovering lost ground.
It traded in a tight range between 63.79 and 63.59 with negative bias most part of the session.
Sustained month-end demand from banks and importers predominantly weighed on the domestic unit even as traders await cues from the US Fed policy meet outcome.
Overall forex sentiment remained little shaky after the Economic Survey warned that a pause in general government fiscal consolidation relative to 2016-17 cannot be ruled out.
Meanwhile, domestic markets took a broad knock and retreated sharply from their record highs amid caution ahead of the Union Budget this week.
Most Asian bourses ended deep in the red reacting to a sharp fall on Wall Street.
The benchmark BSE Sensex tumbled 250 points to end at 36,033.73, while the Nifty slumped almost 81 points to 11,049.65. (PTI)