Rupee slips 25 paise to 71.36 in early trade against dollar; fresh foreign fund inflows curb local currency's losses
Forex traders said strengthening of the US dollar against some currencies overseas and sustained foreign fund outflows weighed on the rupee.
Representational image. Reuters.[/caption]However, fresh foreign fund inflows and positive opening in domestic equities capped the losses for the domestic unit.At the Interbank Foreign Exchange, the rupee opened on a weak note at 71.34 then fell further to 71.36 against the US dollar, showing a decline of 25 paise over its previous closing.On Tuesday, the rupee had settled 1 paise lower at 71.11 against the US dollar.Foreign funds sold shares worth Rs 354.36 crore from the capital markets on a net basis on Tuesday, while domestic institutional investors bought shares worth Rs 81.27 crore, provisional data showed.The global benchmark, brent crude oil was trading at $61.49 per barrel, higher by 0.28 percent.Meanwhile, domestic equity market opened on a higher note. The 30-share BSE benchmark Sensex, was trading at 35,775.46 , up 155.10 points in early trade. The wide-based Nifty was also trading up by 37.70 points at 10,689.90.
South Korea economy grows faster than expected in Q2 as chip exports power recovery
India remains among fastest-growing major economies despite global uncertainty, says RBI Bulletin
Iran war could cut global growth by more than half: World Bank’s chief economist Indermit Gill
Brent crude climbs to $94 as analysts expect oil prices to stay in $90–100 range
UK inflation cools further to 2.6% in June as transport and food prices ease