Forex

Rupee slips 3 paise to 73.18 against US dollar

PTI Mumbai | Updated on January 14, 2021

On Wednesday, the rupee had settled at 73.15 against the American currency.

The rupee opened on a flat note and depreciated by three paise to 73.18 against the US dollar in opening trade on Thursday tracking the muted opening in domestic equities.

At the interbank forex market, the domestic unit opened at 73.18 against the US dollar, registering a fall of 3 paise over its previous close.

On Wednesday, the rupee had settled at 73.15 against the American currency.

"FPI flows into the domestic equity markets could lift sentiments," Reliance Securities said in a research note and added that "RBI’s presence could cap gains”.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose marginally by 0.04 per cent to 90.39.

Traders said investors remained cautious and await the US stimulus details as President-elect Joe Biden will outline his massive fiscal stimulus plan.

Market participants are also looking for cues from the speech from Fed Chief Jerome Powell tonight.

The euro, the sterling and the Japanese yen were flat against the US dollar this morning in Asian trade.

Published on January 14, 2021

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