Monday, August 8, 2016

Rupee sheds gains against dollar on strong US jobs report

The rupee on Monday slipped 6 paise to 66.83 against the US dollar at the Interbank Foreign Exchange tracking negative trend seen among Among Asian currencies.
On Friday, the domestic currency strengthened by 14 paise to end at 66.77 against the US currencyon the back of sustained dollar selling by exporters amid weak overseas signals.
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The dollar held stronger against major currencies on Monday after an upbeat US jobs report released on Friday painted a rosy picture of the US economy.
The dollar index, which tracks the greenback against a basket of six major rivals, was broadly flat at 96.240, not far from a one-week high of 96.522 hit on Friday after the jobs report.
Among Asian currencies, Chinese yuan fell 0.16 per cent, ringgit 0.62 per cent, Korean won 0.37 per cent, while Japanese yen shed 0.26 per cent against the greenback.

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