Comments
The rupee deprecated by 49 paise and fell to 71.27 against the dollar in early trade on Tuesday amid strengthening of the American currency and weak opening in domestic equities.
Forex traders said the strength of the US dollar against other overseas currencies and concerns about US-China trade negotiations also kept investors edgy.
At the Interbank Foreign Exchange, the rupee opened weak at 71.15 then edged up to 71.10 against the American currency, down 32 paise from its previous closing price.
The Indian rupee on Friday had closed at 70.78 against the US dollar.
Forex market were closed on Monday on account of Bakri Id.
Meanwhile, foreign institutional investors (FIIs) were net buyers in the capital markets, putting in Rs 203.73 crore on Friday, according to provisional exchange data.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.23 per cent to 97.60.
Brent crude futures, the global oil benchmark, fell 0.12 per cent to trade at USD 58.50 per barrel.
Domestic bourses opened on a negative note on Tuesday with benchmark indices Sensex trading 17.26 points lower at 37,564.21 and Nifty down 2.75 points at 11,106.90.
The 10-year government bond yield was at 6.54 per cent in morning trade.
Comments
COMMENT NOW
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 TheHindu Businessline 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.