Markets

Rupee slips 33 paise to 73.65 against U.S. dollar in early trade

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The Indian rupee slipped 33 paise to 73.65 against the U.S. dollar in early trade on June 17, amid the strengthening of the greenback in the overseas market.

At the interbank foreign exchange, the domestic unit opened at 73.65 against the dollar, registering a decline of 33 paise over its previous close.

On Wednesday, the rupee had settled at 73.32 against the American currency.

The Indian Rupee started on a weaker note this June 17 against the greenback as the U.S. Dollar surged higher after the Fed’s hawkish statement, Reliance Securities said in a research note.

Asian currencies have started weaker against the greenback this Thursday morning and will weigh on sentiments, the note said adding that the Reserve Bank of India could be present to curb volatility in the markets.

Meanwhile, global oil benchmark Brent crude futures fell 0.60% to $73.94 per barrel.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies rose 0.29% to 91.39.

On the domestic equity market front, BSE Sensex was trading 105.7 points or 0.20% lower at 52,396.28, while the broader NSE Nifty was down 33.55 points or 0.21% at 15,734.00.

Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth ₹870.29 crore, as per exchange data.


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Printable version | Aug 1, 2021 3:14:48 PM | https://www.thehindu.com/business/markets/rupee-slips-33-paise-to-7365-against-us-dollar-in-early-trade/article34837228.ece

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