Rupee still dn by 17 paise vs US dollar in late morning trade

TIL Desk/Business/Mumbai/ The rupee fell by 17 paise to 64.91 against the US currency in late morning trade following continued bouts of dollar demand from banks and importers amid higher dollar overseas.

A spurt in dollar demand from importers on the back of firm foreign fund outflows also weighed on the rupee. The rupee resumed marginally lower by 5 paise at 64.79 per dollar as against yesterday’s closing level of 64.74 at the Interbank Forex Market (Forex) market.

The Indian unit hovered between 64.79 and 64.94 per dollar during morning deals. It was quoting at 64.91 per dollar at 1100 hrs. Meanwhile, the dollar index were trading up 0.10 per cent against a basket of six major currencies to 93.36 after rising 0.25 per cent overnight.

The dollar extended gains against the yen and the euro, aided by a rise in treasury yields after Federal Reserve chief Janet Yellen hinted at an interest rate hike this year. The BSE Sensex was trading lower by 59.58 points, or 0.18 per cent, at 32,574.06 at 1030hrs.