Business

Rupee Depreciates 6 Paise to 81.96 against US Dollars

The rupee fell by 6 paise to 81.96 against the US dollar in early trade on Monday amid a strong American currency against major rivals overseas.

FII inflows into local equities and falling crude price failed to support the Indian currency, analysts said.

At the interbank foreign exchange, the domestic unit opened lower at 81.93 and hit the lowest level of 81.98 before trading at 81.96, registering a fall of 6 paise over its previous close.

On Friday, the rupee settled at 81.90 against the dollar. Crude oil prices were trading lower on Monday with the benchmark Brent crude slipping 1.46 per cent to USD 75.49 per barrel.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, was up 0.10 per cent at 102.35.

In the domestic equity market, the 30-share BSE Sensex was trading 179.17 points or 0.28 per cent higher at 63,563.75. The broader NSE Nifty rose by 47.75 points or 0.25 per cent to 18,873.75.

Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday as they purchased shares worth Rs 794.78 crore, according to exchange data.

-PTI

Also Read: Indian American Hold ‘India Unity Day’ March In Washington-NYC Ahead Of PM Modi’s USA Visit

Bharat Express English

Recent Posts

JP Nadda Slams Rahul Gandhi’s ‘Match-Fixing’ Claims As ‘Desperation Of Losing’ Polls

Rahul Gandhi's opinion piece appeared in a national daily and sparked political uproar. Opposition parties…

1 hour ago

Poverty In India Reduced Via Tangible Boost In Household Living Standards, Incomes

In 2022–23, poverty under the revised $3.00 line stood at just 5.25 per cent in…

2 hours ago

Chhattisgarh: Seven Maoists Killed In Indravati National Park Operation

Five Maoists were killed in two separate encounters with security forces in Chhattisgarh’s Bijapur district,…

2 hours ago

Carney Invites Modi To G7 Summit, Highlights India’s Global Supply Chain Role

Canadian Prime Minister Mark Carney said the most populous country, with the fifth-largest economy, must…

3 hours ago

RBI Frontloads Rate Cuts To Boost Growth Amid Low Inflation: Crisil

The Reserve Bank of India (RBI) has frontloaded its rate cuts to support economic growth,…

3 hours ago

PM Modi Urges Global Action On Coastal Resilience At Nice Summit

PM Narendra Modi on Saturday called for urgent global action to build infrastructure that can…

4 hours ago