ZCZC
BCN-28
INDIA-RUPEE-USD
Rupee slips 11 paise to 70.60 vs USD in opening trade
Mumbai, Mar 6, 2019 (BSS/PTI) – The rupee depreciated 11 paise to 70.60
against the US dollar in opening trade Wednesday on increased demand for the
greenback from importers and banks.
Forex dealers said, strengthening of the American currency in the overseas
market weighed on the domestic currency.
However, fresh foreign fund inflows, easing crude prices and positive opening
in domestic equities supported the rupee and restricted the fall.
The rupee opened weak at 70.60 at the interbank forex market down 11 paise
over its last close. The local currency however pared the initial loss and
was trading ar 70.55.
The rupee Tuesday had strengthened by 43 paise to close at 70.49 against the
US dollar.
Foreign investors put in Rs 751.92 crore on a net basis in capital markets
Tuesday, provisional exchange data showed.
Brent crude futures, the global oil benchmark, eased 0.76 per cent to USD
65.36 per barrel.
Indian bourses furthered gains in early trade Wednesday, with benchmark
indices Sensex and Nifty adding 157 points and 53 points, respectively, on
sustained buying mainly in stocks of finance, metal and capital goods
sectors.
BSS/PTI/HR/1125