Representative image (PTI Photo)
Mumbai: Extending its gains for the second straight day, the rupee on Friday ended higher by 18 paise to 67.92 per dollar on selling of the US currency by banks and exporters in view of weakness in greenback in overseas market.
However, the rupee in 2016 witnessed a loss of 177 paise, or 2.68 per cent, against the dollar as compared to its last year’s closing level of 66.15. The domestic currency touched a record low of 68.86 on November 24, 2016 this year.
The rupee opened higher at 67.95 per dollar as against Thursday’s closing level of 68.10 at the Interbank Foreign Exchange (Forex) Market and hovered in a range of 67.85 and 67.99 before ending at 67.92 per dollar, showing a gain of 18 paise or 0.26 per cent.
The rupee has gained by 32 paise or 0.47 per cent in two days.
Meanwhile, the dollar index was trading down by 0.42 per cent at 102.22 against a basket of six currencies in the late afternoon trade.
Overseas,the euro jumped to its highest in three weeks in holiday-thinned Asian trade, while a drop in US treasury yields on waning risk appetite reduced the greenback’s appeal.
China’s yuan looked set to end the year down nearly 7 per cent against the resurgent dollar, making it the worst performing Asian currency of the year.
Source: News18