Rupee slips 8 paise to 69.73 against US dollar in early trade
Business | Apr 09, 2019, 10:01 AM ISTThe rupee had declined by 44 paise to close at 69.67 against the US dollar Monday.
The rupee had declined by 44 paise to close at 69.67 against the US dollar Monday.
Forex traders said strong US job data and rising crude oil prices in overseas market added pressure to the domestic unit.
The rupee had surged by 33 paise to close at 68.41 against the US dollar Wednesday.
On Tuesday, the rupee had settled at 68.74 against the US dollar.
At the Interbank Foreign Exchange (forex), the domestic unit opened strong at 69.20 then gained further momentum and was trading at 69.15, higher by 15 paise over its previous close.
On Wednesday, the rupee had weakened marginally by 2 paise to close at 68.88 against the US dollar.
On Tuesday, the rupee had appreciated by 10 paise to end at 68.86 against the US dollar following a robust response to RBI's maiden rupee-dollar swap auction.
Meanwhile, the benchmark BSE Sensex recovered by 77.38 points, or 0.20 per cent, to 37,886.29 in early trade Tuesday.
On Friday, the rupee had ended lower by 12 paise at 68.95 against the American currency on rise in demand for the greenback from importers and sell-off in domestic equities.
The rupee opened at 68.60 at the interbank forex market, then gained further ground and touched 68.57, displaying gains of 6 paise over its last close.
The rupee on Thursday had strengthened by 20 paise to close at 69.34 against the US dollar.
The domestic currency in the four sessions to Thursday has appreciated by 80 paise or 0.8 per cent on hopes of forex inflows.
Meanwhile, foreign investors (FIIs) remained net buyers in the capital markets, putting in Rs 2,477 crore on a net basis Tuesday, as per provisional data.
In line with equities, the forex market sentiment has also been boosted by sustained fund inflows by foreign institutional investors (FIIs) in the last few sessions.
Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,095.06 crore on Friday, as per provisional data.
The rupee Wednesday had strengthened by 21 paise to close at 70.28 against the US dollar.
Brent crude futures, the global oil benchmark, eased 0.76 per cent to USD 65.36 per barrel.
The domestic forex market and equity market were closed Monday on account of Mahashivratri.
The rupee had closed 7 paise lower against the greenback Friday at 71.23.
The rupee opened weak at 70.91 and fell further to 71.05, but recovered partially to trade at 70.94, still down by 14 paise against the dollar.
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