FOREX MARKET HEADLINES: The rupee fell by 26 paise

Date: 31/03/2015 

Rupee drops amid month-end demand for dollar from importers

The rupee fell by 26 paise to 62.67 against the US dollar in trade today at the Interbank Foreign Exchange due to rise in the American currency's value against other global currencies amid month-end demand for the dollar from importers. Forex dealers attributed the fall in the rupee to the dollar's strength against other global currencies and sustained capital outflows but a higher opening in the domestic stock market capped the rupee's fall. The rupee had recovered by 26 paise to end at 62.41 against the dollar on Friday.

Euro hurt by Greek uncertainty, dollar helped by rate outlook

The euro fell on Monday, hurt by uncertainty over whether Greece and its international creditors will be able to strike a deal that will help Athens secure funding before it runs out of money by April 20. Talks continued through the weekend on reforms to unlock loans and Athens sounded an upbeat tone, but the lenders said it could take several more days before a proper list of measures was ready. The dollar rose broadly, helped by comments from Federal Reserve chair Janet Yellen, who underscored the view that the Fed is likely to start raising interest rates gradually later this year. The dollar edged up 0.3 percent to 119.50 yen, while the euro fell 0.6 percent to $1.0830, having in the last two weeks pulled away from a 12- year trough of $1.0457.