THE rupee continued its slow but steady fall against the dollar last week, and at one point touched the 102-mark against the reserve currency.

A 4pc decline in export receipts and 6pc rise in import payments have widened the trade deficit in the seven months of FY15. This has also exerted downward pressure on the rupee, despite improved foreign exchange reserves.

Nonetheless, on the interbank market, the rupee started the week by gaining one-paisa for buying and four paisas for selling, as the greenback ended the day at Rs101.74 and Rs101.76, against the prior week’s close of Rs101.75 and Rs101.80.

The rupee dropped by a bigger 11 paisas for buying and 10 paisas for selling in the second trading session, sending the dollar up at Rs101.85 and Rs101.86. The rupee slipped by another one-paisa for buying and two paisas for selling in the third trading session and ended the day at 101.86 and 101.88.

The rupee dipped by a further two paisas in the fourth trading session, as the dollar rose to Rs101.88 and Rs101.90. However, the local currency managed to pick up five paisas in the last trading session, as the dollar closed the week at Rs101.83 and Rs101.86.

The dollar appreciated by eight paisas for buying and six paisas for selling in the interbank market last week. It is up 43 paisas on a monthly basis as well.

The dollar appreciated by around eight paisas in interbank dealings and by 20 paisas in the open market last week

In the open market, the rupee started the week by shedding 10 paisas, sending the dollar up at Rs101.80 and Rs102.00 against the prior week’s close of Rs101.70 and Rs101.90. The rupee-dollar parity remained unchanged at this level in the second trading session.

The rupee posted another loss of 10 paisas in the third trading session, which sent the greenback up at Rs101.90 and Rs102.10. It dipped another five paisas in the fourth trading session, as the dollar ended the day at Rs101.95 and Rs102.15.

However, the rupee recovered five paisas in the last trading session, as the dollar closed the week at Rs101.90 and Rs102.10. As a result, the greenback appreciated by 20 paisas in the open market last week.

Meanwhile, the rupee reversed its recent downtrend against the euro. It started the week by gaining 50 paisas, sending the single currency down at Rs115.00 and Rs115.25 in the first trading session, against the prior week’s close of Rs115.50 and Rs115.75. The rupee-euro parity remained unchanged at this level in the second trading session.

However, the euro regained 50 paisas in the third trading session to revert back to Rs115.50 and Rs115.75. The rupee-euro parity then again remained unchanged at this level in the fourth trading session.

But the rupee posted a big gain of 125 paisas in the last trading session, as the euro dropped to Rs114.25 and Rs114.50 at the close of the week. Overall, the euro depreciated by 125 paisas against the rupee last week.

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