Markets

Rupee slumps 28 paise against U.S. dollar

The local unit opened at 74.44 against the greenback at the interbank forex market and finally settled at 74.64 against the greenback.   | Photo Credit: PTI

The rupee depreciated 28 paise to close at 74.64 (provisional) against the U.S. dollar on Thursday, as weak domestic equities weighed on investor sentiments.

The local unit opened at 74.44 against the greenback at the interbank forex market and finally settled at 74.64 against the greenback, down 28 paise over its last close.

During the session, the domestic unit witnessed an intra-day high of 74.38 and a low of 74.74 against the American currency.

On Wednesday, the rupee declined by 18 paise to close at 74.36 against the U.S. dollar.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.22% to 92.83.

On the domestic equity market front, the 30-share BSE index ended 236.48 points or 0.54% lower at 43,357.19 and the broader NSE Nifty slipped 58.35 points or 0.46% to 12,690.80.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth ₹6,207.19 crore on a net basis on Wednesday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, fell 0.25% to $43.69 per barrel.

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Printable version | Jan 27, 2021 5:23:46 PM | https://www.thehindu.com/business/markets/rupee-slumps-28-paise-against-us-dollar/article33083781.ece

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