Rupee slips 13 paise to 7419 against US dollar in early trade
Mumbai Sep 29 PTI The Indian rupee declined 13 paise to 7419 against the US dollar in opening trade on Wednesday tracking a muted trend in domestic equities At the interbank foreign exchange the rupee opened at 7418 against the dollar then fell further to 7419 registering a fall of 13 paise over its previous close On Tuesday the rupee had settled at 7406 against the US dollar Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was trading down 006 per cent at 9371 On the domestic equity market front the BSE Sensex was trading 30788 points or 052 per cent lower at 5935972 while the broader NSE Nifty declined 8310 points or 047 per cent to 1766550 Meanwhile foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 195770 crore as per exchange data Global oil benchmark Brent crude futures fell 132 per cent to USD 7805 per barrel As the US yields rise dollar index rises and so do oil prices said Anil Kumar Bhansali Head of Treasury Finrex Treasury Advisors According to Bhansali rupee is expected to remain in the range of 7390 to 7440 Quarter-end selling from IT companies and MSCI rebalancing should come as RBI endures to cap the volatility in the currency he noted PTI DRR DRR ANS ANS
Mumbai Sep 29 PTI The Indian rupee declined 13 paise to 7419 against the US dollar in opening trade on Wednesday tracking a muted trend in domestic equities At the interbank foreign exchange the rupee opened at 7418 against the dollar then fell further to 7419 registering a fall of 13 paise over its previous close On Tuesday the rupee had settled at 7406 against the US dollar Meanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies was trading down 006 per cent at 9371 On the domestic equity market front the BSE Sensex was trading 30788 points or 052 per cent lower at 5935972 while the broader NSE Nifty declined 8310 points or 047 per cent to 1766550 Meanwhile foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 195770 crore as per exchange data Global oil benchmark Brent crude futures fell 132 per cent to USD 7805 per barrel As the US yields rise dollar index rises and so do oil prices said Anil Kumar Bhansali Head of Treasury Finrex Treasury Advisors According to Bhansali rupee is expected to remain in the range of 7390 to 7440 Quarter-end selling from IT companies and MSCI rebalancing should come as RBI endures to cap the volatility in the currency he noted PTI DRR DRR ANS ANS
