Rupee stood at 63.57 on fresh demand for the American currency from banks
Picture for representational purpose (Photo: DC archives)
Mumbai: In line with the stock market, the rupee failed to maintain initial gains against the dollar and was quoted lower by six paise to 63.57 on fresh demand for the American currency from banks and importers due to heavy foreign capital outflows.
The rupee resumed higher at 63.45 as against Wednesday's closing level of 63.51 at the Interbank Foreign Exchange (Forex) on initial selling of dollars by banks and exporters. However, it failed to maintain initial gains and dropped to 63.64 before quoting 63.57 at 1000 hours. It moved in a range of 63.45-63.64 per dollar during morning trade.
In the global market, the dollar was lower against the yen and other currencies on Wednesday in subdued pre-Christmas holiday trading.
( Source : PTI )
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