Mumbai: The rupee today pulled back a relief rally against the US currency on the back of renewed dollar weakness overseas in cautious early trade at the Interbank Foreign Exchange market.
The domestic unit was quoted at Rs 45.41/43 per dollar, higher from Thursday’s close of Rs 45.45/47 following a firm start at Rs 45.40/42 per dollar.
After Wednesday's brief dollar recovery, the US currency turned weak on interest rate uncertainties and inflation worries, which reflected on a modest pulled back rupee rally on Friday even as the outlook remained bearish due to a slowdown FIIs inflows and rising crude oil prices, a forex dealer said.
Foreign Institutional Investors (FIIs) pulled out a massive USD 375 million from equity markets in the first three days of the week.
World crude oil prices rose to USD 69.80 a barrel in early Asian trade today due to renewed supply concerns.
The rupee declined by 27 paise on Thursday, pulled down by hectic dollar demand amid renewed meltdown in global stock markets.
Turning to cross currency trade, the Euro was quoted at Rs 58.30/32, Pound Sterling at Rs 85.89/91 and Japanese Yen (100) at Rs 40.89/91.
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