On Monday, the rupee closed down 10 paise at 76.29 against the US dollar for the third consecutive session.
On Monday, the rupee closed down 10 paise at 76.29 against the US dollar for the third consecutive session.
The rupee ended 6 paise lower at 76.35 against the US dollar in early trade on April 19, tracking the greenback’s strength and significant foreign fund outflows.
At the interbank forex, the rupee opened at 76.34 against the US dollar, then lost ground to bid at 76.35, registering a fall of 6 paise from the previous close.
On Monday, the rupee closed down 10 paise at 76.29 against the US dollar for the third consecutive session.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.14% higher at 100.92.
The Indian rupee opened weak and is expected to weaken against the US currency this Tuesday as the Federal Reserve’s interest rate outlook pushed the dollar index to its highest level since March 2020, said Sriram Iyer, senior research analyst at Reliance Securities. gave.
Meanwhile, crude remained firm, while most Asian and emerging market peers have opened weak and may weigh on sentiments, Mr. Iyer said.
However, further depreciation may be capped as RBI may be present to contain volatility, Mr. Iyer said.
On the domestic equity market front, the 30-share Sensex was trading 57.03 points or 0.10% lower at 57,109.71, while the broader NSE Nifty was trading 3.65 points or 0.20% lower at 17,170.00.
Global oil benchmark Brent crude futures rose 0.51% to $113.74 a barrel.
Foreign institutional investors were net sellers in the capital markets on Monday as they sold shares worth Rs 6,387.45 crore, according to stock exchange data.