Forex

Rupee down 24 paise to 71.56 against US dollar

PTI Mumbai | Updated on February 18, 2020 Published on February 18, 2020

File photo   -  shylendrahoode

Investor sentiments remain fragile amid coronavirus fears

Indian rupee skids 24 paise to settle at 71.56 (provisional) against US dollar.

 

The Indian rupee declined by 24 paise to settle at 71.56 (provisional) against the US dollar on Tuesday as investor sentiments remain fragile amid coronavirus fears.

Besides, foreign fund outflows, stronger dollar against key global currencies and subdued equity market too had put pressure on the domestic unit.

The rupee opened weak at 71.42 at the interbank forex market and then fell further to 71.56, down 24 paise over its last close.

The rupee had settled at 71.32 against the US dollar on Monday.

Foreign institutional investors (FIIs) remained net sellers in the capital markets, as they pulled out Rs 374.06 crore on Monday, as per provisional data.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose by 0.17 per cent to 99.16.

 

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Published on February 18, 2020
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