Sunday, Aug 09, 2020 | Last Update : 11:48 AM IST

137th Day Of Lockdown

Maharashtra49026232728117092 Tamil Nadu2850242275754690 Andhra Pradesh2069601204641842 Karnataka164924842322998 Delhi1427231282324082 Uttar Pradesh113378668341981 West Bengal89666630601954 Bihar7179446294400 Gujarat68855517922604 Assam5549737225132 Rajasthan4941835186763 Odisha4255028698292 Haryana4005433444467 Madhya Pradesh3729827621962 Kerala3170019147103 Jammu and Kashmir2392716218449 Punjab2193014040539 Jharkhand165427503154 Chhatisgarh11408831987 Uttarakhand89015731112 Goa7947559570 Telangana751354330615 Tripura6014408437 Puducherry5123291475 Manipur3466192610 Himachal Pradesh3206200813 Nagaland26578247 Arunachal Pradesh204913263 Chandigarh137482023 Meghalaya10234236 Sikkim8544061 Mizoram5672890
  Business   Market  24 Jul 2019  Rupee slips 16 paise against dollar in early trade

Rupee slips 16 paise against dollar in early trade

PTI
Published : Jul 24, 2019, 10:11 am IST
Updated : Jul 24, 2019, 10:11 am IST

Rupee is trading at 69.10 against dollar, amid sustained foreign fund outflows and rising crude oil prices.

Cautious opening in domestic equities and strengthening of the US dollar vis-a-vis against other currencies overseas kept pressure on the Indian rupee.
 Cautious opening in domestic equities and strengthening of the US dollar vis-a-vis against other currencies overseas kept pressure on the Indian rupee.

Mumbai: The rupee opened on a weak note and declined by 16 paise to 69.10 against the US dollar in opening trade on Wednesday, amid sustained foreign fund outflows and rising crude oil prices.

Forex traders said, cautious opening in domestic equities and strengthening of the US dollar vis-a-vis against other currencies overseas kept pressure on the Indian rupee.

 

The rupee opened weak at 69.10 at the interbank forex market, down 16 paise over its last close. The rupee had settled at 68.94 against the US dollar on Tuesday.

Forex traders said the rupee is expected to trade in a narrow range ahead of the much crucial European Central Bank (ECB) policy statement to be released on Thursday.

Other major global cues that are going to dictate terms to the rupee include the US second quarter preliminary GDP print on Friday and the Federal Open Market Committee (FOMC) meeting on July 31, traders said.

Brent crude futures, the global oil benchmark, rose 0.27 per cent to USD 64 per barrel.

Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 2,607.97 crore on Tuesday, as per provisional data.

 

Domestic bourses opened on a cautious note day with benchmark indices Sensex trading 100.39 points down at 37,882.35 and Nifty down 40.80 points at 11,290.25.

Meanwhile, the IMF on Tuesday cut its growth forecast for India for this year and the next saying its GDP will now grow respectively at the rate of 7 per cent in 2019, and 7.2 per cent in 2010, reflecting a weaker-than expected outlook for domestic demand.

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