Rupee falls 17 paise against US dollar

Prime News, National and International, Business, Mumbai, April 15:- The rupee slumped 17 paise to 75.22 against the US dollar in opening trade on Thursday (April 15) following losses in domestic equity markets amid concerns over rising COVID-19 cases.

Besides, foreign fund outflows also weighed on investors’ sentiment, forex traders said.

At the interbank foreign exchange, the domestic unit opened sharply lower at 75.19 against the dollar, and lost further ground to quote at 75.22, a fall of 17 paise over its previous close. In early deals, it touched a low of 75.23. The rupee on Monday (April 12) had closed at 75.05 against the US dollar.

The forex market was closed on Tuesday and Wednesday on account of ‘Gudi Padwa’ and ‘Babasaheb Ambedkar Jayanti,’ respectively.

The 30-share BSE Sensex was trading 269.37 points or 0.55% lower at 48,274.69. Similarly, the broader NSE Nifty slipped 68.60 points or 0.47% to 14,436.20.
Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out ₹730.81 crore on Tuesday, as per provisional data.
The dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading slightly higher by 0.02% to 91.69.
Brent crude futures, the global oil benchmark, edged lower by 0.01% to $66.57 per barrel. (Inputs: Agencies, NGB)

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