Rupee down by 11 paise against dollar

Rupee down by 11 paise against dollar

Agency News

Mumbai, Aug 9 : The Rupee on Friday fell by 11 paise to 70.80 on fresh buying of US Dollars by bankers and Importers, dealers at the Forex Market said. The rupee opened strong at 70.54 at the interbank foreign exchange market, registering a rise of 15 paise over its previous close. The rupee fell due to strong against other world currencies while positive close in the domestic equity market and easing crude oil prices capped the loses. dealers added.

On Thursday, the rupee snapped its five-day losing streak to close higher by 19 paise at 70.69 against the US dollar on Thursday, tracking sharp gains in domestic equities after reports of a roll-back of a tax surcharge on foreign portfolio investors. The Indian currency registered day high and low at 70.45 and 70.82, respectively.UNI