ZI:Rupee hits fresh 11-month low; falls past 57 Vs US dollar
Mumbai: Retreating from its early gains, the rupee hit 57-mark against US dollar in mid-session trade Friday due to sustained dollar demand from importers and some banks amid volatile stock markets.
The rupee resumed higher at 56.70 per dollar as against the last closing level of 56.84 at the Interbank Foreign Exchange (Forex) Market but later dropped as low as 57.11, down 24 paise.
In Los Angeles, the Japanese yen pulled higher in early trade after Tokyo ruled out intervention, but most non-Asian currency pairs moved sideways ahead of the US Jobs report for May.
The US dollar fell to 6.49 yen, down more than half a yen from late Thursday's 97.07 yen, but still holding above the previous day's low of 95.88 yen.
