Wednesday, Sep 23, 2020 | Last Update : 12:56 PM IST

182nd Day Of Lockdown

Maharashtra122438091634833015 Andhra Pradesh6317495518215410 Tamil Nadu5473374919718871 Karnataka5268764233778145 Uttar Pradesh3588932895945135 Delhi2492592133045014 West Bengal2283021989834421 Odisha184122149379763 Telangana1726081419301042 Bihar169856155824870 Assam159320129130578 Kerala13863398720554 Gujarat1247671051913337 Rajasthan116881972841352 Haryana113075908841177 Madhya Pradesh108167836182007 Punjab99930754092860 Chhatisgarh8618347653680 Jharkhand7267358543626 Jammu and Kashmir65026421151024 Uttarakhand4177729000501 Goa2875322726360 Puducherry2319118065467 Tripura2227215441245 Himachal Pradesh124387836125 Chandigarh102987411123 Manipur9010683859 Arunachal Pradesh7385540813 Nagaland5544445110 Meghalaya4733252838 Sikkim2447190529 Mizoram158510120
  Business   Market  03 Feb 2020  Rupee slips 34 paise to 71.66 against US dollar in early trade

Rupee slips 34 paise to 71.66 against US dollar in early trade

PTI
Published : Feb 3, 2020, 10:26 am IST
Updated : Feb 3, 2020, 10:26 am IST

Rupee weakened amid concerns of fiscal slippage and rising coronavirus outbreak fears.

Weak opening in domestic equities and foreign fund outflows weighed on the local unit.
 Weak opening in domestic equities and foreign fund outflows weighed on the local unit.

Mumbai: The rupee opened on a weak note and declined by 34 paise to 71.66 against the US dollar in opening trade on Monday, after the Budget 2020 disappointed market participants.

Forex traders said rupee weakened amid concerns of fiscal slippage and rising coronavirus outbreak fears.

 

Finance Minister Nirmala Sitharaman in her Budget 2020 speech pegged the country's fiscal deficit at 3.8 per cent for the current fiscal, compared to the earlier target of 3.3 per cent of GDP

The rupee opened weak at 71.62 at the interbank forex market and then fell further to 71.66, down 34 paise over its last close. The rupee had settled at 71.32 against the US dollar on Friday.

Market participants further said that factors like weak opening in domestic equities and foreign fund outflows weighed on the local unit, while easing crude oil prices supported the local unit to some extent.

Brent crude futures, the global oil benchmark, fell 0.78 per cent to USD 56.18 per barrel.

 

Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 1,199.53 crore on Friday as per provisional data.

Domestic bourses opened on a cautious note Monday with benchmark indices Sensex trading 98.61 points up at 39,834.14 and Nifty down 6.65 points at 11,655.20.

On February 1, the BSE benchmark Sensex had logged its biggest single-day plunge in more than a decade after the Union Budget failed to live up to market expectations.

The benchmarks, which started on a shaky note on the Budget day, tanked soon after Finance Minister Nirmala Sitharaman pegged the fiscal deficit at 3.8 per cent for the current fiscal.

 

Tags: rupee, dollar, american currency, indian currency
Location: India, Maharashtra, Mumbai (Bombay)