Auto Refresh
Advertisement

News, Business

Rupee sheds 16 paise against US dollar in early trade

Published Mar 25, 2019, 9:48 am IST | Updated Mar 25, 2019, 9:48 am IST

The rupee depreciated 16 paise to 69.11 against the US dollar in opening trade Monday on month-end demand for the American currency

Rupees
Rupees

Mumbai, Mar 25 (PTI) The rupee depreciated 16 paise to 69.11 against the US dollar in opening trade Monday on month-end demand for the American currency from importers amid a weak opening in domestic equity market. Besides, the US dollar edged back from a six-week low against the yen and this factor also weighed on the Indian rupee, dealers said.

At the Interbank Foreign Exchange (forex) market, the domestic unit opened lower at 69.07 and slipped further to 69.14 but recovered partially to quote 16 paise down at 69.11 against the dollar. On Friday, the rupee had ended lower by 12 paise at 68.95 against the American currency on rise in demand for the greenback from importers and sell-off in domestic equities.

Advertisement

Forex dealers said the local unit was weighed down by strong dollar demand from importers to make month-end payments. However, sustained foreign fund inflows and easing crude prices restricted the fall. Foreign portfolio investors (FPIs) bought equities worth Rs 1,374.57 crore Friday, provisional data showed.

Brent crude futures, the global oil benchmark, slipped 0.82 per cent to USD 66.48 per barrel.Meanwhile, the benchmark BSE Sensex fell by 306.53 points, or 0.80 per cent, at 37,858.08 in early deals.

Advertisement
Advertisement
Advertisement

Punjab CM Bhagwant Mann Speech at Vidhan Sabha

03 Oct 2022 8:53 PM
Sonia Mann Speech at Zira Liquor Factory Protest

Sonia Mann Speech at Zira Liquor Factory Protest

Punjabi Actor Sardar Sohi Very Emotional Interview

Punjabi Actor Sardar Sohi Very Emotional Interview

Gurdev Dev Singh Maan Speech at Punjab Vidhan Sabha

Gurdev Dev Singh Maan Speech at Punjab Vidhan Sabha

Advertisement