Rupee slips 25 paise to 71.36 vs USD in early trade
Team Udayavani, Jan 30, 2019, 5:21 AM IST
Mumbai: The rupee depreciated by 25 paise to 71.36 against the US dollar in early trade Wednesday amid strengthening of the American currency and rising crude prices.
Forex traders said strengthening of the US dollar against some currencies overseas and sustained foreign fund outflows weighed on the local unit.
However, fresh foreign fund inflows and positive opening in domestic equities capped the losses for the domestic unit.
At the Interbank Foreign Exchange, the rupee opened on a weak note at 71.34 then fell further to 71.36 against the US dollar, showing a decline of 25 paise over its previous closing.
On Tuesday, the rupee had settled 1 paise lower at 71.11 against the US dollar.
Foreign funds sold shares worth Rs 354.36 crore from the capital markets on a net basis Tuesday, while domestic institutional investors bought shares worth Rs 81.27 crore, provisional data showed.
The global benchmark, Brent crude oil was trading at USD 61.49 per barrel, higher by 0.28 per cent.
Meanwhile, the domestic equity market opened on a higher note. The 30-share BSE benchmark Sensex, was trading at 35,775.46 , up 155.10 points in early trade. The wide-based Nifty was also trading up by 37.70 points at 10,689.90.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
‘Tika Utsav’ from April 11 aims to vaccinate maximum eligible people
Harry but no Meghan at Prince Philips’ funeral
Prince Philip’s funeral on April 17; gun salutes mark start of 8-day national mourning in UK
Related Articles More
India needs to grow faster to make up for contraction during COVID-19 pandemic: IMF
Alibaba fined USD 2.8 billion on competition charge in China
Net direct tax mop up exceeds revised estimates at Rs 9.45 lakh cr in FY21
Recovery is underway after worst global recession since World War II: IMF MD
During COVID-19 pandemic, India’s debt to GDP ratio increased from 74 pc to 90 pc: IMF