Rupee ends 4 paise down at 63.81 against US dollar

Mumbai :Declining for the third consecutive day, the rupee slipped by four paise at 63.81 against the US dollar on sustained demand for the American currency from banks and importers on weak cues from global markets.

However, persistent capital inflows from foreign funds restricted the rupee’s fall, forex dealers said.

The local currency opened almost flat at 63.76 as against its previous closing of 63.77 at the Interbank Foreign Exchange (Forex) market.

It moved in a range of 63.75 and 63.84 during the day before ending at 63.81, showing a loss of 4 paise or 0.06 per cent. The domestic currency had lost seven paise, or 0.11 per cent, in last three days.

The US dollar index was trading higher by 0.02 per cent in late afternoon trade.

In Asian markets, the dollar struggled for direction with traders treading water as they waited for the top-tier non-farm pay-rolls report later in the day, which may strengthen or weaken the case for a September rate hike.

In New York, the dollar edged lower yesterday but finished just below over two week high against its main rivals.

Crude oil futures extended their slide yesterday as a persistent global supply glut, strengthening dollar and concerns over China’s economy continued to put a bearish pall on the market.

Meanwhile, the benchmark BSE Sensex today ended lower by 61.74 points, or 0.22 per cent, at 28,236.39.