The rupee drifted lower versus the dollar on the inter-bank market on Thursday in the process of trading activity, marketmen said.
INTER-BANK MARKET RATES: RATES: The national currency lost 15 paisas against the dollar for buying at Rs 166.85 and shed five paisas for selling at Rs 166.95, they said.
In the fourth Asian trade, the dollar gave up some of its recent gains on Thursday after a 10% jump in oil prices boosted commodity-linked currencies, though uncertainties over the coronavirus pandemic kept the safe-haven greenback strong against other major currencies.
Oil prices leapt on hopes that US diplomacy would succeed in persuading top exporters Saudi Arabia and Russia to end a price war that has driven the crude oil market to its lowest levels in almost two decades, and on a Bloomberg report on China's oil purchases.
Interbank Closing Rates: Interbank Closing Rates For Dollar on Thursday.
======================== Bid Rate Rs 166.85 Offer Rate Rs 166.95 ========================