Rupee falls 10 paise to 70.89 against U.S. dollar in early trade

Updates from :  The Hindu :

The rupee opened lower at 70.88 per dollar against and dropped further to quote at 70.89, 10 paise down over its previous close.

The rupee depreciated by 10 paise to 70.89 against the U.S. dollar in early trade on Wednesday at the interbank foreign exchange amid strengthening of the U.S. dollar against some currencies overseas.

Forex traders said besides increased demand of the US currency from importers, the dollar’s strength against some currencies overseas weighed on the rupee but a higher opening of the domestic equity markets, capped the losses.

The rupee opened lower at 70.88 per dollar against and dropped further to quote at 70.89, 10 paise down over its previous close. The rupee recovered by 8 paise to close at 70.79 against the U.S. dollar on Tuesday on increased selling of the greenback by exporters and softening crude oil prices.

Meanwhile, on net basis, foreign funds bought shares worth ₹811.52 crore, while DIIs purchased share to the tune of ₹31.21 crore on Tuesday, provisional data showed.

The BSE benchmark Sensex opened on a positive note for the third successive session, rising nearly 200 points, on positive global cues ahead of key G20 and Opec meetings. The NSE Nifty too witnessed similar movement, and was trading 35.20 points, or 0.35 per cent, lower at 10,725.60.

Leave a Reply

Your email address will not be published. Required fields are marked *

ViBESolutions (P) Ltd | Technopark Campus| Thiruvananthapuram, Kerala 695581 | www.vibesolution.com | Designed by Vibesolutions.