Rupee eases by 3 paise to end at 46.34/35 against dollar

Mumbai, Dec 2 (PTI) The Indian rupee Wednesday softened
by 3 paise to close at 46.34/35 against the US dollar on mild
dollar buying and weak equities.

In line with strong opening in local stock market, the
rupee resumed higher at 46.15/16 a dollar from overnight close
of 46.31/32 and immediately touched the day's high of 46.14.
But later dropped to a low of 46.36 before ending at
46.34/35 a dollar on weakness in shares.
Forex dealers attributed initial smart rise in the rupee
value to firm stocks where the Indian benchmark sensex was up
by over 131 points in early trade on the back of surge in
Asian indices.
But profit-booking at higher levels pulled the sensex to
end lower by 28.36 points or 0.16 per cent, impacting
negatively on the rupee sentiment.
Mild dollar demand from banks as well as importers too
later put pressure on the rupee. However, dollar held ground
against its major rivals in the London Wednesday.
The rupee, however, was well supported by consistent
capital inflows into equity.
Meanwhile, global crude oil fell below USD 78 a barrel in
London. MORE PTI VMP
MYR


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