ZCZC
BCN-25
INDIA-RUPEE-USD
Rupee falls 9 paise to 68.94 vs USD in early trade
Mumbai, Jul 31, 2019 (BSS/PTI) – The rupee tumbled 9 paise to trade at
68.94 against the US dollar in early trade on Wednesday amid unabated foreign
fund outflows and rising crude oil prices.
The rupee opened weak at 68.89 at the interbank forex market and slipped
further to 68.94, showing a decline of 9 paise against its previous close.
The domestic unit had settled at 68.85 against the US dollar on Tuesday.
Foreign institutional investors (FIIs) remained net sellers in the capital
markets, pulling out Rs 644.59 crore on Tuesday, provisional data with the
exchanges showed.
Meanwhile, brent crude futures, the global oil benchmark, climbed 0.87 per
cent to USD 65.28 per barrel.
The 10-year government bond yield was at 6.36 per cent in morning trade.
Forex traders said the rupee is trading in a narrow range as market
participants are awaiting cues from the outcome of the Federal Open Market
Committee (FOMC) meeting later on Wednesday.
Besides, market participants were trading cautiously after US President
Donald Trump’s tweet threatened to disrupt US-China trade talks.
“My team is negotiating with them now, but they always change the deal in
the end to their benefit,” Trump tweeted.
Meanwhile, domestic bourses opened on a negative note day with benchmark
indices Sensex trading 159.13 points down at 37,237.84 and Nifty up 46.50
points at 11,038.90.
BSS/PTI/HR/1250