Rupee slips 17 paise to 69.59 against US dollar in early trade on increased demand for greenback from importers and banks

Forex dealers said strengthening of the American currency in the overseas market weighed on rupee

Press Trust of India April 16, 2019 10:36:26 IST
Rupee slips 17 paise to 69.59 against US dollar in early trade on increased demand for greenback from importers and banks
  • Sustained foreign fund inflows and positive opening in domestic equities supported the rupee and restricted the fall

  • The rupee opened at 69.55 at the interbank forex market, then lost further ground and fell to 69.59, down 17 paise over its last close

  • Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 713.22 crore Monday

Mumbai: The rupee fell 17 paise to 69.59 against the US dollar in opening trade Tuesday on increased demand for the greenback from importers and banks.

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

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

Rupee slips 17 paise to 6959 against US dollar in early trade on increased demand for greenback from importers and banks

Representational image. Reuters.

The rupee opened at 69.55 at the interbank forex market, then lost further ground and fell to 69.59, down 17 paise over its last close.

The rupee Monday had settled at 69.42 against the US dollar.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 713.22 crore Monday, as per provisional data.

Meanwhile, Brent crude futures, the global oil benchmark, fell 0.27 percent to trade at $70.99 per barrel.

Benchmark indices Sensex was trading 212.10 points up at 39,117.94 and Nifty was quoted at 11,743.80 points, up 53.45 points.

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