Rupee down 18 paise to 66.16 vs US dollar


MUMBAI, SEPT 24: The Indian rupee continued its downward trend for the fourth straight day today as it dropped by another 18 paise against the American currency to close at 66.16, amid mixed global cues.
The rupee resumed sharply lower at 66.20 per dollar as against overnight level of 65.98 at the Interbank Foreign Exchange market.
It hovered in a range of 66.2725 to 66.0350 per dollar during the day, before ending at 66.16 per dollar, showing a loss of 18 paise.
The rupee has dropped by 49 paise or 0.75 per cent in four days.
The ongoing uncertainty in the market has kept the rupee under pressure. Now, the investors are waiting for the RBI’s credit policy due for next week which will show the road ahead to the local markets.
The RBI fixed the reference rate for the dollar at 66.0993 and for the Euro at 73.9585.
The rupee moved up further against the pound sterling to close at 100.79 from 100.96 yesterday while it declined against the euro to 74.42 from 73.63 yesterday.
The rupee fell against the Japanese currency to 55.30 per 100 yen from 54.85.

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