News Nation Logo


Rupee softens 9 paise against US dollar in early trade

PTI | Updated on: 16 Oct 2018, 09:41:58 AM
Rupee softens 9 paise against US dollar in early trade


The rupee weakened by 9 paise to 73.92 against the US dollar in early trade on Tuesday on increased demand for the American currency from banks and importers.

At the Interbank Foreign Exchange, the domestic currency opened higher at 73.79 but lost ground and fell to 73.92.

Dealers attributed the rupee's fall to the dollar's strength against some other currencies overseas but fresh inflows by foreign funds and a higher opening in domestic equity markets, capped the losses.

Read More | #MeToo: Did MJ Akbar hire 97 lawyers to fight defamation case against Priya Ramani?

Moreover, weak exports data also dampened sentiments in the forex market. India's exports entered the negative zone after five months, contracting 2.15 per cent in September to $27.95 billion, according to commerce ministry data.

The rupee had lost 26 paise to close at 73.83 Monday after crude prices rose amid intensifying geopolitical tensions.

Also Read | Rahat Fateh Ali Khan's 'Tu Meri Main Tera' touches the chords of love and heartbreak

The benchmark BSE Sensex on Tuesday rose by 89.17 points, or 0.26 per cent to trade at 34,954.27.

Meanwhile, foreign portfolio investors bought shares worth Rs 67.86 crore on net basis from stock markets on Monday, according to the BSE data.

For all the Latest Business News, Download News Nation Android and iOS Mobile Apps.

First Published : 16 Oct 2018, 09:40:45 AM

Related Tags:

Rupee US Dollar Sensex BSE Nifty