The Indian rupee opened at 81.62 against the dollar however later it lost the ground to 81.63. This recorded a loss of 37 paise since its previous close at the interbank foreign exchange. The domestic unit got depreciated by 35 paise and closed at 81.26 against the US dollar, on 16 November
The rupee fell 37 paise to 81.63 against the US dollar during early trade on 17 November. This came following the strong American currency in the overseas market and a toned down trend in domestic equities.
According to the forex traders, the American currency showed strong position post strong US retail sales data pointed to resilient consumption in spite of a slowing economy, creating a room for tighter policy by the US Federal Reserve.
The Indian rupee opened at 81.62 against the dollar however later it lost the ground to 81.63. This recorded a loss of 37 paise since its previous close at the interbank foreign exchange.
The domestic unit got depreciated by 35 paise and closed at 81.26 against the US dollar, on 16 November.
At the same time, the dollar index, which measures the greenback’s strength against the six currencies basket, went 0.26 per cent up to 106.55.
The Indian Rupee reflected a weaker position on the 17 November morning as the dollar stabilised. This came following the investors assessing the outlook for US Fed policy which was witnessed stronger than expected retail sales data, according to experts.
Brent crude futures, came 1.03 per cent down to USD 91.90 per barrel. It is the global oil benchmark.
In the Indian equity market, BSE Sensex was traded at 72.14 points or 0.12 per cent down at 61,908.58. On the other hand. the broader NSE Nifty was trading on lower side by 32.60 points or 0.16 per cent at 18,377.05.
Foreign Institutional Investors offloaded shares worth Rs 386.06 crore on 16 November, which made them the net sellers in capital markets, said an exchange data.