Rupee slumps 24 paise to 7643 against US dollar in early trade
Mumbai Apr 18 PTI The rupee declined 24 paise to 7643 against the US dollar in the opening trade on Monday tracking the strength of the dollar and elevated crude oil prices At the interbank foreign exchange the rupee opened on a muted note at 7641 against the American dollar then fell and touched an early low of 7643 in initial deals registering a fall of 24 paise over its previous close On Wednesday the rupee dipped 4 paise to close at 7619 against the US dollar The forex market was closed on Thursday for Mahavir Jayanti and Dr Babasaheb Ambedkar Jayanti and on Friday on account of Good Friday Meanwhile global oil benchmark Brent crude futures surged 097 per cent to USD 11278 per barrel The dollar index which gauges the greenbacks strength against a basket of six currencies rose 018 per cent to 10067 The US dollar has started stronger this early Monday morning in Asian trade as more hawkish comments from Federal Reserve officials reinforced expectations for faster US policy tightening Sriram Iyer Senior Research Analyst at Reliance Securities said Hawkish Fed officials and dovish European Central Bank ECB continued to push the dollar and the bond yields higher and will weigh on sentiments Emerging market and Asian peers were weaker against the US dollar this Monday morning and can weigh on sentiments Iyer noted On the domestic equity market front the 30-share Sensex was trading 94121 points or 161 per cent lower at 5739772 while the broader NSE Nifty declined by 24500 points or 14 per cent to 1723065 Foreign institutional investors remained net sellers in the capital market on Wednesday as they offloaded shares worth Rs 206104 crore according to stock exchange data PTI DRR RAM
Mumbai Apr 18 PTI The rupee declined 24 paise to 7643 against the US dollar in the opening trade on Monday tracking the strength of the dollar and elevated crude oil prices At the interbank foreign exchange the rupee opened on a muted note at 7641 against the American dollar then fell and touched an early low of 7643 in initial deals registering a fall of 24 paise over its previous close On Wednesday the rupee dipped 4 paise to close at 7619 against the US dollar The forex market was closed on Thursday for Mahavir Jayanti and Dr Babasaheb Ambedkar Jayanti and on Friday on account of Good Friday Meanwhile global oil benchmark Brent crude futures surged 097 per cent to USD 11278 per barrel The dollar index which gauges the greenbacks strength against a basket of six currencies rose 018 per cent to 10067 The US dollar has started stronger this early Monday morning in Asian trade as more hawkish comments from Federal Reserve officials reinforced expectations for faster US policy tightening Sriram Iyer Senior Research Analyst at Reliance Securities said Hawkish Fed officials and dovish European Central Bank ECB continued to push the dollar and the bond yields higher and will weigh on sentiments Emerging market and Asian peers were weaker against the US dollar this Monday morning and can weigh on sentiments Iyer noted On the domestic equity market front the 30-share Sensex was trading 94121 points or 161 per cent lower at 5739772 while the broader NSE Nifty declined by 24500 points or 14 per cent to 1723065 Foreign institutional investors remained net sellers in the capital market on Wednesday as they offloaded shares worth Rs 206104 crore according to stock exchange data PTI DRR RAM
