Rupee halts 2-day winning run, down 4 paise to 66.96

Snapping its two-day rising trend, the rupee today lost four paise to end at 66.96 against the US dollar on fresh demand for the American currency from banks and importers.

Strong foreign capital outflows also affected the rupee value against the dollar. Foreign portfolio investors (FPIs) sold shares worth a net Rs 1,435.76 crore yesterday, as per provisional data.

Persistent rise in the stock market failed to restrict the rupee's loss against the dollar, a forex dealer said.

The rupee resumed lower at 66.95 as against the Monday's closing level of 66.92 at the Interbank Foreign Exchange market.

The domestic unit hovered between 66.87 and 67.01 per dollar before ending at 66.96, showing a loss of four paise or 0.06 per cent.

The dollar had gained by 15 paise, or 0.22 per cent, in the previous two trading days.

The dollar index was trading higher by 0.21 per cent against a basket of six currencies in the late afternoon trade.

Overseas, the dollar eased against the yen and other rival currencies in range-bound trade on Wednesday, with upside for the US currency stymied as investors cashed in on recent gains. (MORE)

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)