Rupee falls 10 paise to 68.98 against dollar in early trade on increased demand for greenbacks

The rupee opened lower at 69.04 and weakened further to 69.06 but recovered partially to quote 10 paise down at 68.98 against the dollar at 0924 hours.

Press Trust of India March 28, 2019 11:02:49 IST
Rupee falls 10 paise to 68.98 against dollar in early trade on increased demand for greenbacks
  • Forex dealers said, strengthening of the American currency in overseas market weighed on the domestic currency

  • Brent crude futures, the global oil benchmark, fell 0.19 percent to trade at $67.70 per barrel

  • Sustained foreign fund inflows and higher opening in domestic equities supported the rupee and restricted the fall

Mumbai: The rupee fell 10 paise to 68.98 against the US dollar in early trade on Thursday on increased demand for the greenback from importers and banks.

At the interbank forex market, the rupee opened lower at 69.04 and weakened further to 69.06. However, it recovered partially to quote 10 paise down at 68.98 against the dollar at 0924 hrs.

On Wednesday, the rupee had weakened marginally by 2 paise to close at 68.88 against the US dollar.

Rupee falls 10 paise to 6898 against dollar in early trade on increased demand for greenbacks

Representative image. FP photo

Forex dealers said, strengthening of the American currency in overseas market weighed on the domestic currency.

However, sustained foreign fund inflows and higher opening in domestic equities supported the rupee and restricted the fall.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,481.11 crore Wednesday, as per provisional data.

Meanwhile, Brent crude futures, the global oil benchmark, fell 0.19 percent to trade at $67.70 per barrel.

Indian bourses rallied in early trade Thursday, with benchmark indices Sensex trading 115.41 points up at 38,248.29 and Nifty at 11,477.60 points, up 32.55 points.

Updated Date:

also read

GoPro launches Hero 10 Black camera with GP2 processor at Rs 54,000: All you need to know
News & Analysis

GoPro launches Hero 10 Black camera with GP2 processor at Rs 54,000: All you need to know

The Hero 10 Black can capture life-like 5.3K video at the speed of 60 frames per second, with 665 percent more resolution than 1080p HD.

Market cap of four of top-10 most-valued cos jumps Rs 65,464 cr; Airtel, SBI lead gainers
Business

Market cap of four of top-10 most-valued cos jumps Rs 65,464 cr; Airtel, SBI lead gainers

During the last week, BSE jumped 710 points or 1.21 percent, while market benchmark Sensex scaled the 59,000-mark for the first time