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Rupee drops 6 paise to 63

Rupee drops 6 paise to 63.66/$

Thu Jan 11 2018

 

The overnight recovery proved to be short-lived as the rupee once again turned shaky against the US dollar and settled six paise lower at 63.66 on fresh bouts of demand for the American currency.

 

Besides, the dollar’s recovery against some currencies overseas alongside sustained withdrawal of funds by foreign portfolio investors (FPIs) largely weighed on trade. Forex traders moved cautiously ahead of the IIP data for November and Consumer Price Inflation (CPI) for December, to be released tomorrow.

 

Source: http://www.thehindubusinessline.com/

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