Rupee slips 9 paise to 69.20 against $ in early trade

Forex dealers said, strengthening of the American currency in the overseas market weighed on the domestic currency.

April 11, 2019 10:10 am | Updated 10:11 am IST - Mumbai:

Representational image.

Representational image.

The rupee fell 9 paise to 69.20 against the US dollar in opening trade Thursday on increased demand for the greenback from importers and banks.

Forex dealers said, strengthening of the American currency in the overseas market weighed on the domestic currency.

However, sustained foreign fund inflows supported the rupee and restricted the fall.

The rupee opened weak at 69.15 at the interbank forex market, then fell further to 69.20 down 9 paise against its last close. The local currency, however, pared the initial loss and was trading at 69.15 at 0940 hrs.

The rupee Wednesday had strengthened by 19 paise to 69.11 against the US dollar.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in ₹ 1,429.92 crore Wednesday, as per provisional data.

Meanwhile, brent crude futures, the global oil benchmark, fell 0.49 per cent to trade at $71.38 per barrel.

Indian bourses opened on a cautious note Thursday, with benchmark indices Sensex trading 20.31 points up at 38,605.66 and Nifty was quoted at 11,595.95 points, up 11.65 points.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

Comments

Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.

We have migrated to a new commenting platform. If you are already a registered user of The Hindu and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.