The Indian rupee recovered part of its early losses but still closed weaker by four paise at 47.74/75 against the US dollar on Tuesday amid a bounce-back in local stocks and the dollar''s retreat overseas. The rupee touched the intra-day low of 47.96 on the back of fall in the equity markets sharply in early trade, inducing fears of capital outflows.
At the Interbank Foreign Exchange (forex) market, the rupee moved in a range of 47.71 and 47.96 in the day after resuming lower at 47.95/96 a dollar against its previous close of 47.70/72 a dollar.
The Reserve Bank of India fixed the reference rate for the US dollar at Rs 47.76 while for euro at Rs 66.13.
Moreover, the benchmark six-month forward dollar premium payable in November shot up to 63-65 paise from 61-1/2-63-1/2 paise on Monday and the far-forwards maturing in May also closed higher at 112-1/2-114-1/2 paise from 109-111 paise previously.
At the Interbank Foreign Exchange (forex) market, the rupee moved in a range of 47.71 and 47.96 in the day after resuming lower at 47.95/96 a dollar against its previous close of 47.70/72 a dollar.
The Reserve Bank of India fixed the reference rate for the US dollar at Rs 47.76 while for euro at Rs 66.13.
Moreover, the benchmark six-month forward dollar premium payable in November shot up to 63-65 paise from 61-1/2-63-1/2 paise on Monday and the far-forwards maturing in May also closed higher at 112-1/2-114-1/2 paise from 109-111 paise previously.
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