1. You Are At:
  2. English News
  3. Business News
  4. Rupee closes at 73.47; drops 20 paise against US dollar

Rupee closes at 73.47; drops 20 paise against US dollar

On Thursday, the rupee fell 11 paise to close at 73.27. The dollar rose to a 10-week high Friday ahead of US GDP data.

PTI PTI
Mumbai Published on: October 26, 2018 18:24 IST
Representative News Image
Image Source : PTI

Rupee drops 20 paise against USD

The rupee depreciated by 20 paise to close at 73.47 against the US dollar Friday amid a strengthening greenback and sustained foreign capital outflows. At the Interbank Foreign Exchange, the rupee opened on a weak note at 73.44 and further slipped to hit an intra-day low of 73.47 against the US currency.

The local unit gained some ground to reach 73.28 during the day. However, it finally settled at 73.47, showing a loss of 20 paise over the previous close.

On Thursday, the rupee fell 11 paise to close at 73.27.

The dollar rose to a 10-week high Friday ahead of US GDP data.

Oil prices fell over fears of possible drop in oil demand amid a rout in global markets. Brent crude was trading at USD 76.20 per barrel.

The BSE Sensex crashed more than 1 per cent for the second straight session Friday to close at a fresh seven-month low of 33,349.31, while the broader NSE Nifty slipped 94.90 points to 10,030.00.

Foreign funds pulled out Rs 1,356.66 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 1,875.89 crore Thursday, provisional data showed.

The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 73.3740 and for rupee/euro at 83.4077.

The reference rate for rupee/British pound was fixed at 94.0503 and for rupee/100 Japanese yen at 65.41.

Write a comment

chandrayaan-2