The rupee declined by seven paise to Rs. 53.29 in late morning trade on Friday on mild dollar demand from banks and importers despite weakness in the U.S. currency overseas amid higher crude oil prices.
The Indian rupee resumed lower at Rs. 53.25 per dollar as against Thursday’s closing level of Rs. 53.22 at the Interbank Foreign Exchange (Forex) Market.
It hovered in a range of Rs. 53.40 and Rs. 53.24 before quoting Rs. 53.29 per dollar at 1050 hrs.
In New York market, the U.S. dollar fell against the euro yesterday ahead of jobs data, and the Federal Reserve’s statement on Wednesday that it will continue easing measures.
Crude oil prices were up in the Asian trade today, buoyed by optimism over US and European economies and data showing China’s manufacturing activity continued to expand in January, analysts said.
Meanwhile, the Indian benchmark BSE-30 share index, Sensex, ruled steady while quoting 19,895.20 points at 1100 hrs.
