SM: Oil extends losses in Asian trade and Rupee strengthened against dollar
Oil extended losses in Asian trade on Tuesday as disappointing economic data tempered optimism that China’s move to a more flexible yuan would lift energy demand.
New York’s main futures contract, light sweet crude for delivery in August, shed 28 cents to 77.57 dollars a barrel while London’s Brent North Sea crude for August delivery was 18 cents off at 77.86 dollars.
Rupee strengthened marginally against US dollar in early trade
The rupee on Wednesday strengthened marginally to 46 rupees 21 paise against the US dollar in early trade. This follows a steady American currency in overseas markets.
At the Interbank Foreign Exchange market, the rupee gained 3 paise after closing 49 paise lower at 46 rupees 25 paise a dollar in the previous trading session.
Dealers said the rupee moved in a thin range as local equities fell in early trade.
