The Indian rupee fell 16 paisa against the US dollar to 74.68 at the start of trading on Friday, tracking the negative and strong US dollar in the domestic stock market.
Moreover, according to traders, the unabated outflow of foreign funds has put pressure on investor sentiment.
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In interbank forex, the rupee started with a weak note at 74.60, then lost more ground, touching 74.68 against the US dollar and recording a 16 Paisa decline from the last closing.
On Thursday, the rupee closed at 74.52 against the US dollar.
The dollar index, which measures the strength of the greenback against a basket of six currencies, fell 0.05% to 96.72.
Meanwhile, Brent crude oil futures, the global oil benchmark, fell 2.26% to $ 80.36 a barrel.
Foreign institutional investors have offloaded shares worth 2,300.65 rupees, according to exchange data, resulting in a net sale on Thursday’s capital markets.
On the domestic stock market side, 30 shares of Senssex were trading at 57,593.62, down 1201.47 points or 2.04 percent, while the wider NSE Nifty was down 360.90 points or 2.06 percent to 17,175.35.
Rupee slips 16 Paisa to 74.68 against US dollar in early transaction
Source link Rupee slips 16 Paisa to 74.68 against US dollar in early transaction