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April 23, Sunday 2017 11:19 PM       

       HEADLINES: Woman, three daughters mowed down by train                                              Vengara bypolls will decide who is ‘right’, says Joy Mathew                                              Money power and Power Mani behind Munnar encroachment, says Kummanam                                              KRK says sorry for comparing Mohanlal to ‘Chota Bheem’                                              M M Mani is shame for state, says Sudheeran                                              TN CM meets protesting farmers in Delhi                                              ISRO to increase launch frequency to 12 per year                                              Mega defence deals likely during PM's trip to Israel                                              Modi to address all BJP CMs today                                              TN farmers suspend protest after CM's assurance                                              Pakistani man eats leaves for 25 years, never falls ill: Report                                              PPP to launch movement for Sharif's resignation                                              US accuses TCS, Infosys of violating H-1B visa norms                                              It is sad that India is no. 3 in doping: Mary Kom                                              Dhoni seals 6-wkt victory for Pune against Hyderabad                                              Bowlers deliver win for Mumbai                                              No required rate too high if you keep calm: Dhoni                                              Bopanna-Cuevas pair wins Monte Carlo Masters                                              Kaumudi Facebook
       BUSINESS Next Article: Sensex vaults 213 pts ahead of economic data, earnings  
       Rupee sinks 17 paise to 64.67 on global woes
 
         Posted on :00:51:49 Apr 13, 2017
   
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       Last edited on:00:51:49 Apr 13, 2017
         Tags: Rupee sinks 17 paise to 64.67 on global woes
 
Mumbai:  The rupee on Wednesday ended lower by 17 paise to 64.67 against the US dollar with forex market sentiment dipping over simmering geopolitical tensions at the global level.
 
Investor sentiment soured over rising military heat in the Middle East and the Korean peninsula following last week's US strike against Syria and sabre-rattling by the US and North Korea.
 
Besides, key macro data industrial production (IIP) for February and retail inflation for March - to be released later in the day - also appear to have made domestic forex market extra cautious.
 
Domestic bourses also succumbed to profit-taking after brief rebound overnight ahead of the start of the Q4 earnings season.
 
The home currency resumed sharply lower at 64.65 compared to Tuesday's closing value of 64.50 at the Interbank Foreign Exchange market here.
 
The rupee today plunged to touch an intra-day low of 64.73 before ending at 64.67, revealing a loss of 17 paise, or 0.26 per cent.
 
The rupee had recovered 6 paise yesterday.
 
The RBI, meanwhile, fixed the reference rate for the dollar at 64.6920 and for the euro at 68.6706.
 
The dollar index, which tracks the US currency against a basket of six major rivals, was trading higher on the day at 100.65.
 
In cross-currency trade, the Indian unit remained weak against the pound sterling and finished at 80.82 from 80.15 per pound and declined further against the euro to settle at 68.54 compared to 68.43 earlier.
 
It also drifted against the Japanese Yen to end at 58.97 per 100 yens from 58.32 yesterday.
 
On the equity front, the Sensex dropped by 144.87 points to end at 29,643.48, and broader Nifty shed over 33 points to 9,203.45.
 
In the forward market today, premium for dollar drifted due to sustained receivings from exporters.
 
The benchmark six-month premium for September moved down to 150-152 paise from 156-157 paise and the far-forward March 2018 contract also slipped to 307.5-309.5 paise from 312-314 paise on Tuesday.
 
In the global commodity front, crude prices extended gains into an eighth straight session on hopes of supply curbs after Saudi Arabia was said to be pushing its fellow OPEC members and some rivals to prolong supply cuts beyond June amid growing geopolitical worries.
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       BUSINESS
Next Article: Sensex vaults 213 pts ahead of economic data, earnings
 
 
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Rupee sinks 17 paise to 64.67 on global woes  
 
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