Rupee slips 6 paise to 7635 against US dollar in early trade
Mumbai Apr 19 PTI The rupee depreciated 6 paise to 7635 against the US dollar in opening trade on Tuesday weighed down by the strength of the greenback and significant foreign fund outflows At the interbank foreign exchange the rupee opened at 7634 against the American dollar then lost ground to quote at 7635 registering a fall of 6 paise from the last close On Monday The rupee depreciated for the third straight session to close 10 paise lower at 7629 against the US dollar The dollar index which gauges the greenbacks strength against a basket of six currencies was trading 014 per cent higher at 10092 The Indian rupee opened weak and is expected to weaken against the US currency this Tuesday as the Federal Reserve interest rate outlook boosted the dollar index to its highest level since March 2020 said Sriram Iyer Senior Research Analyst at Reliance Securities Meanwhile crude remained strong whereas most Asian and emerging market peers have started weaker and could weigh on sentiments Iyer said However further depreciation could be capped as the RBI could be present to curb volatility Iyer added On the domestic equity market front the 30-share Sensex was trading 5703 points or 010 per cent lower at 5710971 while the broader NSE Nifty declined 365 points or 020 per cent to 1717000 Global oil benchmark Brent crude futures rose 051 per cent to USD 11374 per barrel Foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth Rs 638745 crore as per stock exchange data PTI DRR HVA
Mumbai Apr 19 PTI The rupee depreciated 6 paise to 7635 against the US dollar in opening trade on Tuesday weighed down by the strength of the greenback and significant foreign fund outflows At the interbank foreign exchange the rupee opened at 7634 against the American dollar then lost ground to quote at 7635 registering a fall of 6 paise from the last close On Monday The rupee depreciated for the third straight session to close 10 paise lower at 7629 against the US dollar The dollar index which gauges the greenbacks strength against a basket of six currencies was trading 014 per cent higher at 10092 The Indian rupee opened weak and is expected to weaken against the US currency this Tuesday as the Federal Reserve interest rate outlook boosted the dollar index to its highest level since March 2020 said Sriram Iyer Senior Research Analyst at Reliance Securities Meanwhile crude remained strong whereas most Asian and emerging market peers have started weaker and could weigh on sentiments Iyer said However further depreciation could be capped as the RBI could be present to curb volatility Iyer added On the domestic equity market front the 30-share Sensex was trading 5703 points or 010 per cent lower at 5710971 while the broader NSE Nifty declined 365 points or 020 per cent to 1717000 Global oil benchmark Brent crude futures rose 051 per cent to USD 11374 per barrel Foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth Rs 638745 crore as per stock exchange data PTI DRR HVA
