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Rupee slips 7 paise to 69.24 vs USD in early trade

The rupee opened strong at 69.07 at the interbank forex market, then lost ground and fell to 69.24 down 7 paise over its last close.

twitter-logo PTI   New Delhi     Last Updated: April 15, 2019  | 12:41 IST
Rupee slips 7 paise to 69.24 vs USD in early trade
The rupee had settled at 69.17 against the US dollar on Friday

The rupee fell 7 paise to 69.24 against the US dollar in opening trade Monday 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 unit.

However, sustained foreign fund inflows and positive opening in domestic equities supported the rupee and restricted the fall.

The rupee opened strong at 69.07 at the interbank forex market, then lost ground and fell to 69.24 down 7 paise over its last close.

The rupee had settled at 69.17 against the US dollar on Friday.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 897.45 crore Friday, as per provisional data.

Meanwhile, brent crude futures, the global oil benchmark, fell 0.14 per cent to trade at USD 71.45 per barrel.

Benchmark equity index Sensex was trading 78.27 points up at 38,845.38, and the broader Nifty was at 11,671.20 points, up 27.75 points.

Also read: Share Market Live: Sensex up 95 points, Nifty above 11,650; Tata Motors top gainer, Infosys worst performer

Also read: March quarter results, macro data to drive markets in holiday-shortened week ahead: Analysts

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