Rupee Falls 6 Paise To 74.26 In Early Trade Against US Dollar
- ByStartupStory | June 28, 2021
The Indian rupee plunged 6 paise to 74.26 against the US dollar in opening trade on Monday as firm crude oil prices weighed on investor sentiment.The rupee opened lower at 74.24 against the dollar, then fell further to 74.26, at the interbank foreign exchange, registering a fall of 6 paise over its previous close. On Friday, the rupee had settled at 74.20 against the US dollar.
‘The apparent risk for the rupee this week is persistently higher crude oil prices. That, coupled with the market expectations for a slightly stronger dollar in the short run, will continue to weigh on the local unit,’ Reliance Securities said in a research note. Asian currencies have started flat to marginally weaker against the greenback this morning and could cap appreciation bias, the note added.
Moreover, the dollar index was trading 0.002% up at 91.86. It has seen a greenback’s strength against a basket of six currencies. On the domestic equity market front, BSE Sensex was trading 39.17 points or 0.07 percent lower at 52,885.87, while the broader NSE Nifty declined 6.85 points or 0.04 percent to 15,853.50. Foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 678.84 crore, as per exchange data.
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