The rupee declined 4 paise to 96.39 against the US dollar in early trade on Tuesday over a rise in crude oil prices and sustained FII outflows. However, positive sentiments in the domestic equity markets and a weaker dollar index cushioned the local unit against further decline, forex traders said. At the interbank foreign exchange, the rupee opened at 96.29 but fell to 96.39, down 4 paise from its previous close. The rupee depreciated 10 paise to close at 96.35 against the US dollar on Monday.…
FII outflows continued to weigh on the local unit while a positive start to the day at the domestic equity markets provided support, according to forex traders.
On July 8, the rupee plunged 52 paise to settle at 95.48 against the U.S. dollar
The rupee declined 4 paise to 96.39 against the US dollar in early trade on Tuesday over a rise in crude oil prices and sustained FII outflows. However, positive sentiments in the domestic equity markets and a weaker dollar index cushioned the local unit against further decline, forex traders said. At the interbank foreign exchange, the rupee opened at 96.29 but fell to 96.39, down 4 paise from its previous close. The rupee depreciated 10 paise to close at 96.35 against the US dollar on Monday.…
The rupee weakened against the US dollar due to global crude oil volatility and a stronger greenback. Foreign institutional investor outflows continued to pressure the local currency in early trade. The West Asia crisis intensified with further strikes and retaliatory actions by Iran. Domestic equity markets opened positively, providing some support to the rupee. The dollar index saw a marginal increase while Brent crude prices remained volatile.
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