Forex

Rupee slips 14 paise to 74.51 against US dollar in early trade

PTI Mumbai | Updated on November 17, 2021

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.16 per cent to 96.06.

The Indian rupee depreciated by 14 paise to 74.51 against the US dollar in opening trade on Wednesday, as a muted trend in the domestic equity market and firm American dollar weighed on investor sentiment.

At the interbank foreign exchange, the rupee opened on a weak note at 74.51 against the American dollar, registering a decline of 14 paise from the last close.

On Tuesday, the rupee had closed at 74.37 against the US dollar.

The Indian rupee opened weaker this Wednesday morning tracking the strength of the greenback, Reliance Securities said in a research note.

However, easing crude oil prices and stronger regional currencies could cap depreciation bias, the note added.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.16 per cent to 96.06.

Published on November 17, 2021

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