ZCZC
BCN-18
INDIA-RUPEE-USD
Rupee falls 22 paise to 70.40 against USD in early trade
Mumbai, Jan 3, 2019 (BSS/PTI) – The rupee Thursday slumped 22 paise to
70.40 against the US dollar amid strengthening greenback and sustained
foreign fund outflows.
Forex traders said the dollar strengthening against major global currencies
overseas and fall in domestic equities dragged down the local unit, while
falling crude oil prices capped rupee’s losses.
At the Interbank Foreign Exchange (forex) market, the rupee opened lower at
70.30 and fell further to touch a low of 70.40 a dollar, down 22 paise over
its previous closing.
On Wednesday, the rupee had depreciated 75 paise to 70.18 against the
American currency.
Brent crude, the global benchmark, was trading lower at 54.44 per barrel,
lower by 0.86 per cent.
Meanwhile, foreign funds pulled out Rs 621.06 crore from the capital markets
on a net basis, while domestic institutional investors sold shares worth Rs
226.18 crore Wednesday, provisional data showed.
The 30-share BSE index was trading lower by 84.30 points, or 0.23 per cent,
at 35,807.22. Similarly, the broader NSE Nifty was trading down 34 points, or
0.32 per cent, at 10,758.50.
BSS/PTI/HR/1030