Rupee Weakens 6 Paise To 81.77 Against USD During Early Trade

The domestic unit, at the interbank foreign exchange, opened weak at 81.81 against the dollar. Brent crude futures being the global oil benchmark too fell 2.58 per cent down to USD 81.47 per barrel

The rupee fell 6 paise down to 81.77 against the US dollar during early trade on 28 November. This came after a lacklustre trend in domestic equity markets and a firm American currency overseas.

The lower crude prices, however, in the international market and fresh foreign fund inflows held the rupee’s fall, according to forex traders.

The domestic unit, at the interbank foreign exchange, opened weak at 81.81 against the dollar. It, however, gained some ground to quote 81.77, which registered a decline of 6 paise from its previous close.

On 25 November, the rupee softened by just one paisa to end at 81.71 against the dollar, in the previous session.

The dollar index, went 0.41 per cent up to 106.39. It measures the greenback’s strength against a basket of six currencies,

Brent crude futures being the global oil benchmark too fell 2.58 per cent down to USD 81.47 per barrel.

The 30-share BSE Sensex was traded 27.97 points or 0.04 per cent lower at 62,265.67, in the domestic equity market. On the similar lines, the broader NSE Nifty fell 12.45 points or 0.07 per cent to 18,500.30.

Foreign Institutional Investors (FIIs) purchased shares worth Rs 369.08 crore, according to exchange data, which made them net buyers in the capital markets on 25 November.

Rediscovering their liking for Indian equities, foreign portfolio investors have made a net investment of Rs 31,630 crore in November in hopes of an end to the aggressive rate hikes and positivity about overall macroeconomic trends.