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RBI sets rupee reference rate at 66.3700 against dollar
Mumbai: The rupee weakened 6 paise to quote at 66.45 against the dollar in early trade on Thursday on increased month-end demand for the American currency from importers and banks.
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At the Interbank Foreign Exchange, the rupee was trading lower by 5 paise against the previous close of 66.15. It dropped further to 66.47 on month-end dollar demand from importers mainly oil refiners.
However, it recovered immediately to 66.09 on fresh selling of dollars by banks and exporters before closing at 66.15 on hopes of foreign capital inflows, showing a gain of 24 paise, or 0.36 per cent.
It hovered in a range of 66.37 per dollar and 66.47 per dollar during the day.
The dollar index was up by 0.09% against the basket of six currencies in late afternoon trade.
OPEN MARKET RATES: Open Market Rates For Dollar on Saturday. On the global front, euro declined on Thursday, as European shares declined, tracking weakness in Chinese market, ahead of the New Year break. At the close, the benchmark 30-share index, BSE Sensex gained 157.51 points or 0.61% at 26,117.54 with 20 components registering rise.
The currency on Monday closed at 66.19, up by 2 paise. The benchmark six-month premium payable in June eased to 202-204 paise from 204.25-206.25 paise previously and far forward December 2016 contract also moved down to 411-413 paise from 412-414 paise.
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It also recouped against the Japanese Yen to 55.11 per yen from 55.14 previously.