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Rupee ends 2015 on dismal note; records 5th year of decline

Rupee_6

Mumbai :Marking the fifth consecutive year of depreciation, the rupee ended 2015 with a yearly loss of 312 paise, or 4.95 per cent, against the US dollar on heavy fund outflows, even as the last day today saw a modest gain of 24 paise in the Indian currency.

The rupee closed 24 paise higher at 66.15 against the US dollar today on hopes of foreign capital inflows amidst recovery in the equity market.

The domestic currency opened lower at 66.45 as against the overnight closing level of 66.39 at the Interbank Foreign Exchange (forex) market and moved down further to 66.46 on initial month-end dollar demand from importers.

However, it recovered immediately to 66.09 on fresh selling of dollars by banks and exporters before closing at 66.15 on hopes of foreign capital inflows, showing a gain of 24 paise, or 0.36 per cent.

It moved in a range of 66.09 and 66.46 during the day.

The dollar index was up by 0.09 per cent against the basket of six currencies in late afternoon trade.

Globally, the US dollar was mostly flat against its major peers as the holiday season capped the damage after yesterday’s surge of the greenback against commodity currencies, including the Russian rouble.

Meanwhile, the benchmark BSE Sensex today rose by 157.51 points, or 0.61 per cent, to end 2015 at 26,117.54.

PTI

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