<div> The Indian rupee on Monday (21 April) lost a hefty 30 paise to end the day at almost one-month low of 60.59 against the dollar due to fresh demand for the US currency from importers, mainly oil refiners despite a surge in stocks.</div><div> </div><div>At the Interbank Foreign Exchange (Forex) market, the domestic unit plunged to 60.61 before settling at 60.59, a fall of 30 paise or 0.50 per cent from its previous close.</div><div> </div><div>Forex managers attributed weakness in the rupee value to heavy dollar demand from importers, mainly oil refiners, to meet their month-end requirements.</div><div> </div><div>"There was buying from nationalised banks throughout the day for oil companies. Some short-covering by market participants also led to the fall," said Agam Gupta, Managing Director and Head of Fixed Income Trading, Standard Chartered Bank.</div><div> </div><div>Meanwhile, the BSE benchmark Sensex today rose to its all-time high of 22,795.58 but settled the day a few points lower at 22,764.83--its life-time closing high.</div><div> </div><div>According to per Sebi data, foreign institutional investors bought shares worth USD 67.58 million last Thursday.</div><div> </div><div>The dollar index, a gauge of six major global rivals, was almost stable.</div><div> </div><div>Pramit Brahmbhatt, Veracity Group CEO, said: "The rupee opened flat after a three-day week-end break and also due holiday in some of the global markets due to Easter Monday.</div><div> </div><div>Not much movement was seen in the dollar index and it is trading near its previous close." </div><div> </div><div>The benchmark six-month premium payable in September declined to 218.5-220.5 paise from 220-221.5 paise previously.</div><div> </div><div>Far forward contracts maturing in March, 2015 also dropped to 456-458 paise from 460-462 paise.</div><div> </div><div>The Reserve Bank of India fixed the reference rate for dollar at 60.33 and for the euro at 83.38.</div><div> </div><div>The rupee moved down against the pound to 101.80 from last Thursday's close of 101.37 while declined further against the euro to 83.69 from 83.56.</div><div> </div><div>It, however, edged up to 59.03 per 100 Japanese yen from 59.04.<br /><br />(PTI)</div><div> </div>
_20240428181258original_image_40.webp)
