India News | Rupee Slips 11 Paise to 73.65 Against US Dollar in Early Trade
Get latest articles and stories on India at LatestLY. The rupee slipped 11 paise to 73.65 against the US dollar in opening trade on Friday, tracking stronger American currency overseas.
Mumbai, Oct 23 (PTI) The rupee slipped 11 paise to 73.65 against the US dollar in opening trade on Friday, tracking stronger American currency overseas.
At the interbank forex market, the domestic unit opened weak at 73.62 and dropped further to 73.65 against US dollar in early deals, showing a fall of 11 paise over its previous close.
On Thursday, the rupee closed 4 paise up at 73.54 against the US currency.
A strong US dollar is weighing on the rupee despite positive domestic equities trend, forex traders said.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.11 per cent to 93.05.
BSE index Sensex was trading 159.95 points higher at 40,718.44, and the broader NSE Nifty advanced 51.05 points to 11,947.50.
Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 1,118.46 crore on Thursday, according to exchange data.
Meanwhile, Brent crude futures, the global oil benchmark, increased 0.31 per cent to USD 42.59 per barrel.
(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)