ZCZC
BCN-11
INDIA-RUPEE-USD
Rupee slips 11 paise to 69.61 vs USD in early trade
Mumbai, Jun 14, 2019 (BSS/PTI) – The rupee opened on a weak note and
declined by 11 paise to 69.61 against the US dollar in opening trade Friday,
as rising crude oil price concerns weighed on investor community.
The rupee opened weak at 69.55 at the interbank forex market and then fell
further to 69.61, down 11 paise over its last close.
The rupee had settled at 69.50 against the US dollar on Thursday.
Forex traders said, rupee is trading in a narrow range as prospects of an
interest rate cut by the US Federal Reserve kept investors edgy.
Besides, strengthening of the American currency in the overseas market and
weak opening in domestic equities weighed on the local unit.
Meanwhile, foreign fund inflows supported the domestic currency.
Brent crude futures, the global oil benchmark, rose 0.47 per cent to USD
61.60 per barrel.
Foreign institutional investors (FIIs) remained net buyers in the capital
markets, putting in Rs 172.35 crore Thursday, as per provisional data.
Domestic bourses opened on a cautious note Friday with benchmark indices
Sensex trading 76.97 points down at 39,664.39 and Nifty down 28.25 points at
11,885.80.
BSS/PTI/HR/1208