Zee Media Bureau
Snapping its two-week winning streak against the American currency, the Indian rupee ended down by 8 paise at 62.49 on month-end greenback demand from importers coupled with fall in crude oil prices.
At the Interbank Foreign Exchange (Forex) market, the domestic unit commenced lower at 62.55 as against weekend's level of 62.41 and dropped further to 62.69 on initial heavy dollar demand.
However, the domestic currency trimmed its initial losses on selling of dollars by banks and exporters on expectation of good foreign capital inflows in view of rise in equity market and recovered to 62.48 before concluding the week at 62.49, still showing a loss of eight paise or 0.13 per cent.
It had gained 56 paise, or 0.89 per cent, in the previous two weeks.
The domestic currency moved in a range of 62.48 and 62.69 during the week.
In global markets, crude oil prices fell after Russia and Iran's foreign ministers claimed a breakthrough in talks over Tehran's controversial nuclear programme that could ease sanctions on the crude producer.
Meanwhile, the benchmark BSE Sensex rose by 801.50 points, or 2.92 percent, to end the week at 28,260.14.
With PTI Inputs
