Rupee down 12 paise against dollar in early trade
Continuing its fall for the fifth straight day, the rupee lost another 12 paise to trade at a fresh 10 - month low of 62.45 against the US dollar in early trade today at the Interbank Foreign Exchange due to sustained demand for the American unit from importers.
The rupee had plummeted to a 10-month low of 62.33 against the greenback, down 31 paise in yesterday's trade, on strong dollar demand due to oil firms stepping up purchases of crude oil which is trading near 5- year lows.
Meanwhile, the BSE benchmark Sensex recovered by 64.20 points, or 0.23 per cent, to 27,766.21 in early trade today.
China's yuan dips as traders brace for data, further stimulus moves
China's yuan weakened slightly against the dollar on Friday after the central bank set the official guidance rate lower, and as traders looked to a raft of economic data later in the day for clues on further stimulus measures. The spot market opened at 6.1937 per dollar, down 0.08 per cent from the previous close and was changing hands at 6.1915 at midday. The spot rate slid 0.59 per cent in Monday and Tuesday trading before stabilising amid trader suspicions that the central bank had intervened. The PBOC set the midpoint rate at 6.1184 per dollar prior to the market open, down 0.05 per cent from the previous fix. The spot rate is currently allowed to trade 2 per cent above or below the midpoint. The spot rate was 1.19 per cent below the midpoint, the largest spread since late June.
Continuing its fall for the fifth straight day, the rupee lost another 12 paise to trade at a fresh 10 - month low of 62.45 against the US dollar in early trade today at the Interbank Foreign Exchange due to sustained demand for the American unit from importers.
The rupee had plummeted to a 10-month low of 62.33 against the greenback, down 31 paise in yesterday's trade, on strong dollar demand due to oil firms stepping up purchases of crude oil which is trading near 5- year lows.
Meanwhile, the BSE benchmark Sensex recovered by 64.20 points, or 0.23 per cent, to 27,766.21 in early trade today.
China's yuan dips as traders brace for data, further stimulus moves
China's yuan weakened slightly against the dollar on Friday after the central bank set the official guidance rate lower, and as traders looked to a raft of economic data later in the day for clues on further stimulus measures. The spot market opened at 6.1937 per dollar, down 0.08 per cent from the previous close and was changing hands at 6.1915 at midday. The spot rate slid 0.59 per cent in Monday and Tuesday trading before stabilising amid trader suspicions that the central bank had intervened. The PBOC set the midpoint rate at 6.1184 per dollar prior to the market open, down 0.05 per cent from the previous fix. The spot rate is currently allowed to trade 2 per cent above or below the midpoint. The spot rate was 1.19 per cent below the midpoint, the largest spread since late June.
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