Mumbai: After a brief pause, the rupee on Monday declined by six paise to close at 67.84 against the American currency on fag-end dollar demand from banks and importers
ahead of the RBI policy meet tomorrow.
The domestic unit resumed slightly higher at 67.77 per dollar as against last Friday's closing level of 67.78 at the Interbank Foreign Exchange (Forex) market and moved up further to 67.63 on initial selling of the American currency by banks and exporters on good foreign capital inflows into equities.
However, it dropped afterwards to 67.87 before ending at 67.84, showing a loss of 6 paise or 0.10 per cent on fag-end dollar demand from banks and importers. The domestic unit had gained by 45 paise or 0.66 per cent on last Friday.
The domestic unit hovered in a range of 67.63 and 67.87 during the day. The dollar index was down 0.24 per cent against a basket of six currencies in late afternoon trade.
Globally, the yen weakened against the US dollar and euro in the late Asian trade today, as the market continued to feel the heat from the Bank of Japan's move to adopt negative interest rates Friday.
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