The rupee continued to decline for the fourth day on November 30, falling by 6 paise to 75.13 against the US dollar.
The rupee rose 29 paise to 74.84 against the US dollar in early trade on December 1, as positive domestic equities and a weak US currency in overseas markets boosted investor sentiment.
At the interbank foreign exchange, the rupee opened at 74.96, and advanced by 29 paise to 74.84 against the US dollar in opening deals.
The rupee continued its decline for the fourth day on November 30, falling 6 paise to 75.13 against the US dollar, as investor concerns grew over the fresh impact of the new Covid-19 pandemic on the economy.
The rupee has been under pressure in the last few trading sessions, as the detection of a new coronavirus pandemic re-ignited growth concerns and hurt risk appetite.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, slipped 0.06% to 95.93.
On the domestic equity market front, the 30-share Sensex was trading 376.76 points or 0.66% higher at 57,441.63, while the broader NSE Nifty jumped 111.65 points or 0.66% to 17,094.85.
Global oil benchmark Brent crude futures fell 3.91% to $70.57 a barrel.
Foreign institutional investors were net sellers in the capital market on November 30 as they sold shares worth ₹5,445.25 crore, according to exchange data.
On the macro-economic front, the Indian economy remained on track to register the fastest growth among major economies this year as its GDP clocked a better-than-expected 8.4% in the July-September quarter to surpass pre-pandemic levels.
Meanwhile, the central government’s fiscal deficit stood at 36.3% of the budget estimate at the end of October 2021, on the back of improving revenue collection, according to data released by the Controller General of Accounts (CGA) on November 30.
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