Rupee snaps two-day winning streak; settles 27 paise down at 71.62 against US dollar

MUMBAI: The rupee snapped its two-day winning streak to finish 27 paise lower at 71.62 against the US dollar on Thursday, as month-end dollar demand from importers ahead of the GDP number weighed on the domestic currency.

Forex traders said that the domestic unit was trading in a narrow range as investors are awaiting clarity on the US-China trade deal front.

At the interbank foreign exchange market, the local currency opened on a positive note at 71.33 but lost ground during the day to touch a low of 71.67. It finally settled at 71.62, lower by 27 paise against its previous close. On Wednesday, the domestic unit had closed at 71.35 against the US dollar.