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Friday, October 23, 2020

Rupee skids 13 paise to 73.51 against US dollar in early trade

At the interbank forex market, the rupee opened on a weak note at 73.50, then fell further to 73.51, registering a fall of 13 paise over its last close.

By: PTI | Mumbai | Updated: September 22, 2020 11:14:58 am
Indian five hundred rupee banknotes are arranged for a photograph in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

The rupee depreciated 13 paise to 73.51 against the US dollar in opening trade on Tuesday tracking muted domestic equities.

At the interbank forex market, the rupee opened on a weak note at 73.50, then fell further to 73.51, registering a fall of 13 paise over its last close.

The rupee strengthened by 7 paise to close at 73.38 against the US dollar on Monday.

“Most of the Asian currencies have started marginally weak this Monday and could weigh on sentiments,” Reliance Securities said in a research note.

Markets could also track weakness in the equities. Most Asian equities have started on a negative note on global risk aversion, it added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.14 per cent to 93.52.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 290.04 points lower at 37,744.10 and broader NSE Nifty slipped 95.10 points to 11,155.45.

Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 539.81 crore on Monday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, rose 0.46 per cent to USD 41.63 per barrel.

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