November 15, 2021
Economy

Rupee slips 14 paise to 73.21 against U.S. dollar in early trade

Forex traders said weak Asian currencies and strengthening of the greenback in the overseas market were the other factors that dragged down the local unit.

The Indian rupee slipped 14 paise to 73.21 against the U.S. dollar in early trade on Monday, as rising crude oil prices and weak domestic equities weighed on investor sentiments.

Forex traders said weak Asian currencies and strengthening of the greenback in the overseas market were the other factors that dragged down the local unit.

At the interbank foreign exchange, the domestic unit opened at 73.21 against the dollar, registering a decline of 14 paise over its previous close.

On Friday, the rupee had settled at 73.07 against the American currency.

“Asian currencies have started weaker this Monday against the greenback and will weigh on sentiments,” Reliance Securities said in a research note.

Additionally, rising crude…

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