Comments
The rupee dropped by 20 paise to 73.36 against the US dollar in early trade on Thursday amid unabated foreign fund outflows.
After opening lower at 73.33, rupee weakened further to quote at 73.35 against the dollar registering a fall of 20 paise.
At 4 p.m , the domestic currency was quoted at 73.23, down by 7 paise against yesterday's close at 73.16
Traders said increased demand for the US currency from importers and a lower opening of domestic equity market weighed on the local unit.
The dollar’s weakness against some currencies overseas and easing crude oil prices, however, restricted the rupee fall, they added.
Foreign investors pulled out Rs 2,040.54 crore from equity markets on Wednesday, as per provisional data.
On Wednesday, the rupee strengthened by 41 paise to close at more than three-week high of 73.16 against the US currency as global crude oil prices eased and domestic equity markets staged a smart rebound.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.