Rupee falls 18 paise to 7443 against US dollar in early trade
Mumbai Jan 18 PTI The rupee declined by 18 paise to 7443 against the US dollar in opening trade on Tuesday as strong American currency and elevated crude oil prices weighed on investor sentimentsForex traders said muted domestic equities and dollar buying by banks on behalf of importers also dragged the local unit downAt the interbank foreign exchange the rupee opened weak at 7436 against the US dollar then fell further to 7443 against the greenback in early deals registering a decline of 18 paise from the last closeOn Monday the rupee declined by 10 paise to close at 7425 against the US currencyMeanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies advanced by 011 per cent to 9536The USD looks stronger and is expected to move higher after finding support at 9450 Flows are there in the market which will keep the rupee depreciation slow as we approach the Federal Open Market Committee FOMC meeting on January 26 and the Union Budget on February 1 said Anil Kumar Bhansali Head of Treasury Finrex Treasury Advisors Meanwhile global oil benchmark Brent crude futures jumped by 094 per cent to USD 8729 per barrelOn the domestic equity market front the 30-share Sensex was trading 16049 points or 026 per cent lower at 6114842 while the broader NSE Nifty declined 7750 points or 042 per cent to 1823060Foreign institutional investors remained net sellers in the capital market on Monday as they offloaded shares worth Rs 85547 crore as per exchange data PTI BAL
Mumbai Jan 18 PTI The rupee declined by 18 paise to 7443 against the US dollar in opening trade on Tuesday as strong American currency and elevated crude oil prices weighed on investor sentimentsForex traders said muted domestic equities and dollar buying by banks on behalf of importers also dragged the local unit downAt the interbank foreign exchange the rupee opened weak at 7436 against the US dollar then fell further to 7443 against the greenback in early deals registering a decline of 18 paise from the last closeOn Monday the rupee declined by 10 paise to close at 7425 against the US currencyMeanwhile the dollar index which gauges the greenbacks strength against a basket of six currencies advanced by 011 per cent to 9536The USD looks stronger and is expected to move higher after finding support at 9450 Flows are there in the market which will keep the rupee depreciation slow as we approach the Federal Open Market Committee FOMC meeting on January 26 and the Union Budget on February 1 said Anil Kumar Bhansali Head of Treasury Finrex Treasury Advisors Meanwhile global oil benchmark Brent crude futures jumped by 094 per cent to USD 8729 per barrelOn the domestic equity market front the 30-share Sensex was trading 16049 points or 026 per cent lower at 6114842 while the broader NSE Nifty declined 7750 points or 042 per cent to 1823060Foreign institutional investors remained net sellers in the capital market on Monday as they offloaded shares worth Rs 85547 crore as per exchange data PTI BAL
