Markets

Rupee slips 8 paise to 71.89 against USD in early trade

Rupee vs Dollar

Rupee vs Dollar   | Photo Credit: V.V. Krishnan

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Traders were also awaiting fresh cues on the potential U.S.-China trade deal

The Indian rupee opened on a cautious note and fell 8 paise to 71.89 against the U.S. dollar in early trade on Thursday tracking muted opening in domestic equities.

At the interbank foreign exchange, the rupee opened at 71.83 then fell to 71.89 against the dollar, showing a decline of 8 paise over its previous closing.

The Indian rupee on Wednesday had closed at 71.81 against the dollar.

Traders were also awaiting fresh cues on the potential U.S.-China trade deal.

Meanwhile, brent crude futures, the global oil benchmark, fell 0.29% to USD 62.22 per barrel.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, as they purchased shares worth ₹566.52 crore on Wednesday, as per provisional data.

Domestic bourses opened on a cautious note on Thursday with benchmark indices Sensex trading 4.04 points down at 40,647.60 and Nifty lower by 7.30 points at 11,991.80.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.05% to 97.88.

The 10-year government bond yield was at 6.46% in morning trade.

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Printable version | Dec 6, 2019 9:43:38 PM | https://www.thehindu.com/business/markets/rupee-slips-8-paise-to-7189-against-usd-in-early-trade/article30034856.ece

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