October 20, 2021

Rupee slips 11 paise to 73.72 against US dollar in early trade

MUMBAI: The Indian rupee depreciated 11 paise to 73.72 against the US dollar in opening trade on Wednesday, tracking a strong greenback in the overseas market.
Forex traders said a positive trend in domestic equities and sustained foreign fund inflows supported the rupee, but firm crude oil prices and broad strength in the US dollar index dragged the local unit down.
At the interbank foreign exchange, the rupee opened at 73.70 against the dollar, then fell further to 73.72, registering a decline of 11 paise from the last close.
In the previous session on Tuesday, the rupee had settled at 73.61 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.08 per cent to 93.27.
Foreign institutional investors were net buyers in the capital market on Tuesday as they purchased shares worth Rs 1,041.92 crore, as per…

Read full article here: timesofindia.indiatimes.com