Rupee depreciated 17 paise to settle at 63.76 against dollar on Thursday.The local unit had weakened 3 paise to settle at 63.58 against the greenback in the preceding session.
Data released overnight showed a better-than-expected recovery in the US home resales.
The home resales rose in June to their highest level in over eight years, signaling a recovery in the US housing market. The numbers have raised hopes that the US Federal Reserve is on track to raise interest rates later this year.
Dollar index, which tracks the movement of dollar against a trade-weighted basket of six major world currencies stood at to 96.98.
On Thursday, currency markets will be keenly awaiting more cues on the US economy. Data on initial jobless claims and leading indicators will be released later in the day. Friday will see realease of PMI readings in the euro zone and the US.
Source:economictimes.indiatimes.com
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