<p>In line with equity market, the Rupee washed out initial gains against the US dollar and was quoted lower by 6 paise to 56.56 per dollar on fresh dollar demand from importers.<br /><br /></p>.<p>The rupee resumed lower at 56.55 per dollar as against the last weekend's level of 56.50 per dollar at the Interbank Foreign Exchange (Forex) Market on mild dollar demand.<br /><br />However, it recovered afterwards to 56.40 per dollar on fresh selling of dollars by exporters before quoting at 56.56 per dollar at 1040 hrs.<br /><br />It hovered in a range of 56.40 and 56.57 per dollar during the morning deals.<br /><br />Meanwhile, in the global market, the Australian dollar pared gains in the early trade following a weak reading on manufacturing activity in key export market like China, as well as domestic retail-sales data, that missed expectations.<br /><br />The economic data arrived a day ahead of an interest-rate decision by Australia’s central bank.<br /><br />Oil prices were lower in Asian trade today after OPEC kept its output ceiling unchanged and voiced concerns over weak global economic growth dragging crude demand.<br /><br />New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in July, was down 19 cents to USD 91.78 a barrel in the morning.<br /><br />Sensex dropped by 64.48 points or 0.33 per cent to 19,695.82 at 1050 hrs.</p>
<p>In line with equity market, the Rupee washed out initial gains against the US dollar and was quoted lower by 6 paise to 56.56 per dollar on fresh dollar demand from importers.<br /><br /></p>.<p>The rupee resumed lower at 56.55 per dollar as against the last weekend's level of 56.50 per dollar at the Interbank Foreign Exchange (Forex) Market on mild dollar demand.<br /><br />However, it recovered afterwards to 56.40 per dollar on fresh selling of dollars by exporters before quoting at 56.56 per dollar at 1040 hrs.<br /><br />It hovered in a range of 56.40 and 56.57 per dollar during the morning deals.<br /><br />Meanwhile, in the global market, the Australian dollar pared gains in the early trade following a weak reading on manufacturing activity in key export market like China, as well as domestic retail-sales data, that missed expectations.<br /><br />The economic data arrived a day ahead of an interest-rate decision by Australia’s central bank.<br /><br />Oil prices were lower in Asian trade today after OPEC kept its output ceiling unchanged and voiced concerns over weak global economic growth dragging crude demand.<br /><br />New York's main contract, West Texas Intermediate (WTI) light sweet crude for delivery in July, was down 19 cents to USD 91.78 a barrel in the morning.<br /><br />Sensex dropped by 64.48 points or 0.33 per cent to 19,695.82 at 1050 hrs.</p>