Rupee halts 3-day slide v/s USD; up 7 paise at 64.52

TIL Desk/Business/Mumbai/ The rupee rebounded from a 3-week low against the American currency and ended higher by 7 paise at 64.52 following fresh bouts of dollar selling amid weak undertone overseas. Robust capital inflows into the equities and debt predominantly supported the domestic currency even as forex market continues to price in a rate rise by the Federal Reserve as a near-term risk.

Though, forex trading sentiment was by and large tepid and becalmed for yet another day, hampered by lack of key triggers even as traders refrained from taking any fresh positions ahead of a long weekend. Crude oil prices steadied- after hitting ten-month lows in the middle of this week.

Domestic equities retreated sharply as cautious investors booked profits in key heavyweights ahead of the extended weekend amid increased global economic uncertainty in the face of stunning fall in crude prices. Foreign funds turned net buyers after recent spell of offloading and bought Indian equities worth Rs 192.68 crore yesterday, as per the provisional figures.