India News | Rupee Falls 20 Paise to 74.44 Against US Dollar in Early Trade

Mumbai, Aug 20 (PTI) The Indian rupee declined 20 paise to 74.44 against the US dollar in opening trade on Friday, tracking a lacklustre trend in domestic equities.

At the interbank foreign exchange, the rupee opened at 74.38 against the dollar, then fell further to 74.44, registering a fall of 20 paise over its previous close.

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On Wednesday, the rupee had settled at 74.24 against the US dollar.

The forex market was closed on Thursday on account of 'Muharram'.

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Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading down 0.04 per cent at 93.52.

Global oil benchmark Brent crude futures rose 0.53 per cent to USD 66.80 per barrel.

On the domestic equity market front, BSE Sensex was trading 303.53 points or 0.55 per cent lower at 55,325.96, while the broader NSE Nifty slumped 115.00 points or 0.69 per cent to 16,453.85.

Meanwhile, foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 595.32 crore, as per exchange data.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)