Rupee slips 13 paise to 73.02 against U.S. dollar in early trade

On June 8, the rupee had settled at 72.89 against the American currency.

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The Indian rupee fell 13 paise and slipped below the 73 per U.S. dollar mark in early trade on June 9 tracking the strengthening of the American currency in the overseas market.

At the interbank foreign exchange, the domestic unit opened at 72.90 against the dollar, then slipped 13 paise to 73.02 against the American currency.

On June 8, the rupee had settled at 72.89 against the American currency.

Lack of any major data on June 9 in the domestic and the international markets could keep the currency flat, Reliance Securities said in a research note.

Most Asian currencies have started slightly stronger against the U.S. dollar this Wednesday morning and could cap depreciation bias, the note added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies rose 0.02% to 90.09.

Global oil benchmark Brent crude futures rose 0.51% to $72.59 per barrel.

On the domestic equity market front, BSE Sensex was trading 109.51 points or 0.21% higher at 52,385.08, while the broader NSE Nifty was up 40.65 points or 0.26% to 15,780.75.

Foreign institutional investors were net buyers in the capital market on June 8 as they purchased shares worth ₹1,422.71 crore, as per exchange data.