Forex

Rupee slips 14 paise to 71.11 against $ in opening trade

PTI Mumbai | Updated on November 07, 2019 Published on November 07, 2019

The rupee opened on a weak note and declined by 14 paise to 71.11 against the US dollar in opening trade on Thursday after reports that the US-China trade deal signing could be delayed to December weighed on investor community.

Forex traders said, the decline in the domestic unit was largely in tandem with other Asian currencies after reports of delay in US-China trade deal. However, sustained foreign fund inflows, positive opening in domestic equities and easing crude oil prices supported the local unit.

The rupee opened weak at 71.10 at the interbank forex market and then fell further to 71.11, down 14 paise over its last close. The rupee had settled at 70.97 against the US dollar on Wednesday.

Published on November 07, 2019
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