Rupee weakens 23 paise to 73.79 against dollar in early trade on sustained foreign fund outflows

On Monday, the rupee had settled 24 paise lower at 73.56 against the US dollar due to steady capital outflows and strengthening of the American currency.

Press Trust of India October 23, 2018 09:42:58 IST
Rupee weakens 23 paise to 73.79 against dollar in early trade on sustained foreign fund outflows

Mumbai: The rupee depreciated 23 paise to 73.79 against the US dollar in early trade Tuesday as the American currency strengthened overseas.

Dealers attributed the rupee's fall to increased demand for the US currency from importers and sustained foreign fund outflows.

Besides, domestic equity market opening with losses, also weighed on the rupee, they said.

Rupee weakens 23 paise to 7379 against dollar in early trade on sustained foreign fund outflows

Representational image.

At the interbank foreign exchange, the rupee opened weak at 73.74 then slipped further to quote 23 paise down at 73.79 against the US dollar.

On Monday, the rupee had settled 24 paise lower at 73.56 against the US dollar due to steady capital outflows and strengthening of the American currency.

The benchmark Sensex, cracked below the 34,000-mark by falling 193.15 points, or 0.57 percent to 33,941.23 in the opening trade Tuesday.

Meanwhile, on a net basis, foreign portfolio investors (FPIs) sold shares of Rs 511.91 crore Monday, as per provisional data.

Updated Date:

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