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Rupee slips 9 paise against US dollar

Prime News, National and International, Business, Mumbai, April 11:- The rupee fell 9 paise to Rs 69.20 against the US dollar in opening trade Thursday 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 currency. However, sustained foreign fund inflows supported the rupee and restricted the fall.

The rupee opened weak at Rs 69.15 at the interbank forex market, then fell further to Rs 69.20 down 9 paise against its last close. The local currency, however, pared the initial loss and was trading at Rs 69.15 at 9:40 am.
The rupee on Wednesday had strengthened by 19 paise to Rs 69.11 against the US dollar.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,429.92 crore Wednesday, as per provisional data. Meanwhile, brent crude futures, the global oil benchmark, fell 0.49 per cent to trade at USD 71.38 per barrel.

Indian bourses opened on a cautious note Thursday, with benchmark indices Sensex trading 20.31 points up at 38,605.66 and Nifty was quoted at 11,595.95 points, up 11.65 points. (Inputs: Agencies, NGB)

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