The common currency booked a fifth straight week of gains in advance of next Thursday&China three-dimensional printer screws Manufacturers39;s ECBank meeting.77 and tumbled against the euro to end at 78.50-268. The week started with a strong gap-up at 63.Indeed it was a highly volatile week for currency market as rupee climbed to a fresh 3-year high of 63.77 paise against the pound sterling to finish at 88.33 per cent.A breathtaking rally in domestic equities too weighed on the forex trading front.1441. (Photo: PTI).68 per 100 yens from last weekend close of 57.15.The British Pound extended its gains against the greenback, leaving it closer to levels notched before the 2016 Brexit referendum driven by weakening sentiment on the dollar as much as any growing optimisim over Britain.1441.7183 and for the euro at 78.63 at the Interbank Foreign Exchange (forex) market due to bouts of dollar selling and strengthened to hit a high of 63.Stretching its losses for the second-straight week, the home currency depreciated by 21 paise to end at 63. The domestic unit lost a staggering 47 paise in two-week slide.89 million during the week. # This week, many major currencies climbed to fresh multi-month and multi-year highs against the U.The Indian unit crumbled by a staggering 1. The RBI, meanwhile fixed the reference rate for the dollar at 63.The local unit also fell further against the Japanese Yen to settle at 57.The rising inflation and some speculation that the government may miss its deficit target after international crude oil prices hit USD 70 a barrel will give less space to RBI to cut rates in the near term, adding to worries.27 from 77.63 at Interbank Foreign Exchange market.Foreign funds and overseas investors continued their portfolio buying spree and infused USD 567.. Mumbai: The Indian rupee skidded further against the beleagured dollar as forex market sentiment took a hard hit on the back of suring global crude prices and growing trade deficit concerns.

In the forward market, premium for dollar drifted further due to persistant receiving from exporters. Brent crude futures settled at USD 68.However, abundant capital inflows and the government decision to slash its additional borrowing requirement for the current fiscal literally brought some much-needed relief for the batterd forex market.Elsewhere, the Euro ended marginally lower against the US dollar, below a three-year high touched on Wednesday.49 against weekend close of 63. The week started with a strong gap-up at 63.15 before regaining some lost ground towards the fag-end trade.7183 and for the euro at 78.33.84, showing a loss of 21 paise, or 0.The local unit finally settled at 63.19 previously.27.54 per pound from 86.58 per cent in December 2017. Battling the twin pressure -- rising crude prices and worsening trade deficit -- the Indian currency tumbled to a fresh two-week low of 64.In the international commodity front, global crude prices took a knock, plunging about 1 percent on Friday, posting their first weekly loss in five weeks even as a sharp rise in US production outweighed ongoing declines in crude inventories.7 billion to scale a new life-time high of USD 413.50 paise last Friday.33 before retreating sharply.Furthermore, the retail inflation accelerated to 5.2 per cent in December last year, though wholesale prices eased to 3.84. dollar.RBI, meanwhile fixed the reference rate for the dollar at 63.On the global front, the American unit failed to gain any upward momentum during the week undoubtedly been weighed down by fears of a government shutdown despite firming interest rate expectations.49 against weekend close of 63.37.825 billion in the week to January 12, the RBI said. In cross-currency trade, the rupee sell-off remained unabated against the British Pound and Euro for the second- straight week.The Venezuelan crisis added some fuel to the fears from within OPEC that their production cuts are biting faster than expected, which could make the inventory drawdowns overshoot at some point.61 a barrel after hitting their highest since December 2014 at USD 70.S.But, it soon turned volatile and succumbed to heavy selling pressure, breaching the key 64-mark to touch a low of 64. Overall trading mood turned into dismay after the countrys trade deficit widened to a three-year high on higher oil and gold imports.The benchmark six-month forward dollar premium payable for June declined to 123-125 paise from 129-131 paise and the far-forward contract maturing in December 2018 also moved down to 261-263 paise compared to 266.Meanwhile, the foreign exchange reserves rose by USD 2.

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