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Rupee slips 16 paise against US dollar

Prime News, National, International, Business, Mumbai, November 26:- The Indian rupee depreciated by 16 paise to 74.68 against the US dollar in opening trade on Friday (November 26), tracking the negative domestic equity market and a firm American dollar.

Further, unabated foreign fund outflows weighed on investor sentiment, traders said.

At the interbank foreign exchange, the rupee opened on a weak note at 74.60, then lost further ground and touched 74.68 against the American dollar, registering a decline of 16 paise from the last close. On Thursday (November 25), the rupee had closed at 74.52 against the US dollar.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell by 0.05 percent to 96.72.

Meanwhile, global oil benchmark Brent crude futures declined 2.26 percent to $80.36 per barrel.

Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 2,300.65 crore, as per exchange data.

On the domestic equity market front, the 30-share Sensex was trading 1201.47 points or 2.04 percent lower at 57,593.62, while the broader NSE Nifty declined 360.90 points or 2.06 percent to 17,175.35. (Inputs: Agencies, NGB)

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