Mumbai | The rupee trimmed its initial losses, but was still quoting down by 4 paise to 67.59 against the American currency Friday on bouts of continued dollar demand from importers and banks. The local unit resumed lower at 67.65 per dollar as against yesterday’s closing level of 67.55 at the Interbank Foreign Exchange (Forex) market. It slipped further to 67.67 before quoting at 67.59 at 1030 hours and hovered in a range of 67.67 and 67.58 during the morning trade.
In the global market, the US dollar steadied against its major rivals in early Asian trade, but remained on track for weekly losses, as investors braced for US employment figures later in the session over the latest clues on the outlook for the Federal Reserve’s monetary tightening path.
The BSE benchmark Sensex was trading higher by 217.85 points or 0.90 per cent at 24,556.28 in late morning trade.