Rupee falls 3 paise to 73.64 against US dollar in early trade on increasing demand for American currency

On Wednesday, the rupee had ended lower by 13 paise to 73.61 against the US dollar.

Press Trust of India October 19, 2018 09:44:56 IST
Rupee falls 3 paise to 73.64 against US dollar in early trade on increasing demand for American currency

Mumbai: Continuing its slide, the rupee weakened by 3 paise to 73.64 against the US dollar Friday due to increased demand for the American currency from importers.

At the Interbank Foreign Exchange, the rupee opened lower at 73.62 and slipped further to 73.64 against the dollar, showing a fall of 3 paise.

Traders said besides sustained demand of the US currency from importers, a lower opening in the domestic equity markets also weighed on the local unit.

The losses in the domestic currency were however limited as the US dollar weakened against some currencies overseas.

Rupee falls 3 paise to 7364 against US dollar in early trade on increasing demand for American currency

Representative image.

On Wednesday, the local currency had ended lower by 13 paise to 73.61 against the US dollar.

Forex market remained shut on Thursday on account of "Dussehra".

Meanwhile, on a net basis, foreign funds bought shares worth Rs 140.02 crore, while domestic institutional investors sold shares to the tune of Rs 343.11 crore Wednesday, provisional data showed.

The benchmark BSE Sensex fell 408.45 points, or 1.17 percent, to 34,371.13 in the opening trade.

Updated Date:

also read

Market Roundup: Sensex up by 76 points, Nifty ends at 17,945; check top winners and losers
Business

Market Roundup: Sensex up by 76 points, Nifty ends at 17,945; check top winners and losers

Maruti Suzuki, Power Grid, ITC, NTPC and SBI have been the top Sensex gainers

Sensex rallies over 500 points to reclaim 60,200 level after RBI policy outcome; Nifty up 149 points
Business

Sensex rallies over 500 points to reclaim 60,200 level after RBI policy outcome; Nifty up 149 points

Tata Steel was the top gainer in the Sensex pack, rising over 2 percent, followed by Infosys, TCS, Reliance Industries, HCL Tech and Bajaj Auto

Market Roundup: Sensex rises by 488 points, Nifty ends at 17,790; check top winners and losers here
Business

Market Roundup: Sensex rises by 488 points, Nifty ends at 17,790; check top winners and losers here

While India VIX fell by 6.79 percent to end at 16.16 levels, BSE Smallcap rose by 1.38 percent to end at 29,088.57 and BSE Midcap registered a rise of 1.68 percent to 25,799.72.