Demand From Importers And Banks

 On the international energy front, oil prices jumped to a two-year high on Friday as North American markets tightened on the partial closure of the Keystone pipeline connecting Canadian oilfields with the United States.96 per pound and also remained subdued against the euro to settle at 76.Mumbai: Retreating from a three week high, the rupee on Friday depreciated by 12 paise to close at 64.In forward market today, premium for dollar displayed a mixed trend owing to lack of market moving factors.US light crude hit highs not seen since July 1, 2015, on Friday, trading up 1.7328 and for the euro at 76.70, showing a loss of 12 paise, single screw barrel Factoryor 0.58 on Thursday.13.48 a barrel in early Asian trade.54 on sustained dollar unwinding.Suspected RBI intervention to iron out excessive volatility also weighed on trade.38 per cent to USD 58.It touched a low of 64.

However, the recovery momentum short-lived as the local unit succumbed to bouts of volatility and kept on grinding lower following sudden dollar demand.19 per cent.Moreover, surging crude prices ahead of the much awaited OPEC meet also impacted overall currency market mood, a forex dealer commented.A sharp uptick in the US dollar demand from importers and banks amid rising prospect of Fed rate hike by the end of this year largely dominated trading sentiments.Brent crude was trading higher at USD 63.At the Interbank Foreign Exchange (forex) market, the rupee opened virtually flat at 64.51.73 from 76.The domestic currency, however, regained some ground against the Japanese yen to conclude at 58.The dollar index, which measures the greenback39;s value against a basket of six major currencies, was down at 92.meanwhile, fixed the reference rate for the dollar at 64.

The RBI, meanwhile, fixed the reference rate for the dollar at 64.13 from 85.03 per 100 yens from 58.In cross-currency trades, the rupee dropped further against the pound sterling to finish at 86.81 per barrel.7213.On weekly basis, rupee strengthened by a whopping 31 paise against the dollar.Pound Sterling, however, traded little changed despite overnight robust GDP data as sentiment remained shaky due to overall nervousness surrounding the Brexit negotiations.end-ofTags: rupee, dollar, interbank foreign exchange, rbiLocation: India, Delhi, New Delhi.95 in early trade.On weekly basis, the rupee strengthened by a whopping 31 paise against the dollar.Trading activity was expected to be low on Friday due to the US Thanksgiving holiday.Most Asian bourses were mixed against the backdrop of Thursday39;s intense blue-chip selloff in Chinese markets.3 per cent at USD 63.70 a dollar due to renewed  demand for the US currency.7328 and for the euro at 76.