Rupee falls back to 63.57

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The rupee fell back by six paise to 63.57, after resuming strong in line with rally in local equities, against the greenback in late morning deals following US dollar demand from importers.
Capital outflows, in small lots, also weighed on the rupee while rally in local stocks restricted the rupee fall to some extent, aFOREX DEALER said.

At the InterbankFOREIGN EXCHANGE (Forex) market, the domestic unit commenced higher at 63.45 on sustained dollar selling by exporters from previous close of 63.51.

Later, it met with strong resistance and turned negative to touch a low of 63.58 before being quoted at 63.57 at 1045 hrs, revealing a fall of six paise or 0.09 per cent. In last three sessions, it had risen by 66 paise or 1.03 per cent.

The benchmark BSE Sensex today improved further by 145 points or 0.53 per cent while FPIs sold shares worth Rs 38.31 crore last Friday, as per provisional data. The dollar index was quoting up by 0.16 per cent in Asian trade today.

Meanwhile,OIL PRICES rose in Asia today following fresh tensions in Yemen and Iraq. Brent crude for July rose 14 cents to USD 66.95 a barrel in late morning trade.

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