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Rupee loses 14 paise

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MUMBAI: The Indian rupee on Thursday lost 14 paise to close at 43.29/31 against the U.S. dollar amid capital outflows and spiralling global crude oil prices. It closed at 43.17 on Wednesday.

At the interbank foreign exchange market, the domestic unit resumed lower at 43.29/31 but recovered to 43.19 on some dollar selling by exporters.

The domestic currency later reacted downwards to 43.35 on dollar buying by foreign banks and oil refiners to meet their import requirements. Finally, the domestic unit closed at the opening level of 43.29/31. In cross currency deals, the rupee reacted downwards against the British pound sterling, the Euro and the Japanese yen.

The Reserve Bank of India fixed the reference rate for the dollar at Rs. 43.30 and for the single European unit at Rs. 68.72. — PTI


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