Forex: Rupee extended gains for the third consecutive week in a row against US dollar by moving up another 7 paise to 66.14 per dollar on persistent selling of dollars by banks and exporters in view of good foreign capital inflows. The domestic unit resumed higher at 66.10 per dollar as against last Friday's level of 66.21 at the Interbank Foreign Exchange (Forex) market on initial selling of dollars by banks.
However, it dropped to 66.47 per dollar on month-end dollar demand from importers mainly oil refiners during the Intra-day week. It moved in a range of 66.0850 and 66.47 per dollar during the week before finishing at 66.14 per dollar, showing a gain of seven paise or 0.11 per cent.
The rupee has gained by 74 paise or 1.11 per cent in three weeks. Foreign portfolio investors (FPIs) pumped in USD 262.41 million during the four days of the week in the equity market as per the SEBI's record. Oil prices rebounded in Asia on the last trading day of 2015 following a sharp decline fuelled by an unexpected rise in US commercial stockpiles.
The commodity headed for another annual loss caused by a stubborn global supply glut and weak demand. US benchmark West Texas Intermediate (WTI) for elivery in February traded at USD 36.75.
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