Rupee falls 3 paise against dollar in late morning trade
In line with equity markets, the rupee fell by three paise to 61.76 against the American currency in late morning trade on fresh dollar demand from banks and importers. The rupee resumed higher at 61.70 as against 61.73 at the Interbank Foreign Exchange ( Forex) and firmed up further to 61.67 on initial selling of dollars by banks in view of firm trend in equity markets. However, it washed out initial gains and dropped to 61.80 on fresh dollar demand from banks before quoting at 61.76 at 1100 hours. The local currency hovered in a range of 61.67-61.80 per dollar during late morning trade. In New York market, the euro recovered against the dollar yesterday as investors shook off some worries about Greece.
In line with equity markets, the rupee fell by three paise to 61.76 against the American currency in late morning trade on fresh dollar demand from banks and importers. The rupee resumed higher at 61.70 as against 61.73 at the Interbank Foreign Exchange ( Forex) and firmed up further to 61.67 on initial selling of dollars by banks in view of firm trend in equity markets. However, it washed out initial gains and dropped to 61.80 on fresh dollar demand from banks before quoting at 61.76 at 1100 hours. The local currency hovered in a range of 61.67-61.80 per dollar during late morning trade. In New York market, the euro recovered against the dollar yesterday as investors shook off some worries about Greece.
Euro pauses after short-covering bounce, focus on US jobs data
The euro eased versus the dollar on Friday, with the near-term focus on whether US jobs data later in the day will bolster the case for the Federal Reserve to consider raising interest rates around mid-year. The euro eased 0.1 percent to $1.1469, after having surged 1.2 percent the previous day in a short covering rally. The euro's rise on Thursday was helped by reports that the European Central Bank had agreed to allow Greece's national central bank to grant its banks emergency funding of up to 60 billion euros.
The euro eased versus the dollar on Friday, with the near-term focus on whether US jobs data later in the day will bolster the case for the Federal Reserve to consider raising interest rates around mid-year. The euro eased 0.1 percent to $1.1469, after having surged 1.2 percent the previous day in a short covering rally. The euro's rise on Thursday was helped by reports that the European Central Bank had agreed to allow Greece's national central bank to grant its banks emergency funding of up to 60 billion euros.
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