of currencies on Friday as continued uncertainty over the economic agenda of U. S. President Donald Trump pushed investors out of the greenback.
of currencies on Friday as continued uncertainty over the economic agenda of U.S. President Donald Trump pushed investors out of the greenback.
The dollar dropped to a four-month low against the yen in early trading but retraced some of its losses after rumors began to swirl about the impending firing of White House senior adviser Steve Bannon.
The dollar index a measure of the US currency against a basket of six trade-weighted major rivals rebounded to end at 93.42 against 93.10 last week.
In cross-currency trade, the Indian unit hardened further against the British pound to end at 82.59 from last weekend level of 83.25 per pound and settled marginally higher against the Euro at 75.31 compared to 75.48 earlier.
The local currency, however remained under selling pressure against the Japanese Yen and finished at 58.82 per 100 yens from 58.78 previously.
In the forward market, premium for dollar remained weak owing to persistent receivings from exporters.
The benchmark six-month forward dollar premium payable for January edged lower to 125-127 paise from 129-131 paise e and the far-forward contract maturing in July 2018 also dropped to 259.50-261.50 paise from 263.50-265.50 paise.
In global commodity trade, crude prices pulled back after two weeks of declines and managed to regain some lost ground after data showed the number of active oil and gas rigs in the United States fell this week by 3 rigs and also reports that Saudi Arabia s oil exports had hit a 33-month low.
Brent crude, the international energy benchmark, is up 3.6 per cent at USD 52.87 a barrel, while West Texas Intermediate, the main US contract, rose 3.4 per cent to USD 48.71 a barrel.
(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)
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