Rupee slips 20 paise to 71.22 vs USD in early trade

Rupee slips 20 paise to 71.22 vs USD in early trade

By / Business News / Wednesday, 09 October 2019 06:54

The Indian rupee opened on a cautious note and fell 20 paise to 71.22 against the US dollar in early trade on Wednesday tracking subdued opening in domestic equities and foreign fund outflows.

However, weakening of the US dollar vis-a-vis other currencies overseas and easing crude oil prices supported the domestic unit and restricted the fall.

At the interbank foreign exchange, the rupee opened on a strong note at 71.20 then lost momentum and fell to 71.22 against the US dollar, showing a decline of 20 paise over its previous closing.

Domestic bourses opened on a cautious note on Wednesday with benchmark indices Sensex trading 28.70 points down at 37,503.28 and Nifty lower by 3.20 points at 11,123.20.Foreign institutional investors offloaded shares worth Rs 494.21 crore on Monday, according to provisional exchange data.

Author

Hum Hindustani

Hum Hindustani

Please publish modules in offcanvas position.