Rupee slips 23 paise to 69.85 against US dollar on fund outflows
Team Udayavani, Apr 24, 2019, 11:17 AM IST
Mumbai: The rupee Wednesday declined 23 paise to 69.85 against the US dollar in early trade due to higher demand for the greenback from importers amid foreign fund outflows.
A strengthening US dollar against major global currencies also affected rupee’s trading pattern, forex dealers said.
However, lower crude prices and a higher opening of the domestic equity markets restricted fall of the domestic currency to some extent, they added.
At the Interbank Foreign Exchange (forex) market, the rupee opened sharply lower at 69.80 against the US dollar, and further fell to quote at 69.85, a decline of 23 paise over its previous close.
On Tuesday, the rupee had appreciated by 5 paise to settle at 69.62 against the US dollar.
Foreign institutional investors (FIIs) emerged as net sellers in capital markets, pulling out Rs 237.47 crore on Tuesday, provisional exchange data showed.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.03 per cent to 97.66.
The BSE Sensex was trading 75.37 points or 0.20 per cent higher at 38,640.25 in early trade. The NSE Nifty too rose 21.15 points or 0.18 per cent to 11,597.10.
Meanwhile, global benchmark Brent crude declined by 0.54 per cent to USD 74.11 per barrel.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Sensex, Nifty fall over 1 pc, snap two-day rally ahead of US Fed interest rate decision
SC orders liquidation of grounded air carrier Jet Airways’ assets
Home-cooked meals become dearer in October on costlier vegetables
Sensex, Nifty surge over 1 pc on heavy buying in IT stocks as Trump set to win US polls
Das says incoming data on GDP growth mixed but positives outweigh negatives
MUST WATCH
Latest Additions
Salman Khan gets another threat; message sent to Mumbai traffic police helpline
SC overrules 1967 verdict holding AMU can’t be minority institution
DK Child Protection Unit to conduct campaign to raise awareness of child trafficking
Kambala: Tradition and modernity in coastal Karnataka
BJP MP Tejasvi Surya, editors of Kannada news portals booked for allegedly spreading fake news
Thanks for visiting Udayavani
You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.