Something went wrong with the connection!
 Breaking News

Rupee slips 16 paise to 68.58 against US dollar

Rupee slips 16 paise to 68.58 against US dollar
July 08
10:31 2019

MUMBAI: The rupee on Monday depreciated by 16 paise to 68.58 against the US dollar in early trade, mainly due to heavy selling in domestic equities and foreign fund outflows.

However, weakening of the American currency in the overseas market, and easing crude oil prices restricted the rupee’s decline, forex traders said.

The rupee came under pressure following heavy selling in domestic equities amid outflow of foreign funds, they added.

The BSE Sensex crashed 405.67 points, or 1.03 per cent, to trade at 39,107.72 Monday. Similarly, the broader Nifty sank 128 points, or 1.08 per cent, to 11,683.15.

At the interbank foreign exchange, the local unit opened weak at 68.49 per dollar, and fell further to quote at 68.58, showing a decline of 16 paise over its previous close.

The rupee on Friday settled 8 paise higher at 68.42 against the dollar.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, fell by 0.07 per cent to 97.21.

Meanwhile, brent crude futures, the global oil benchmark, declined 0.02 per cent to trade at USD 64.22 per barrel.

Foreign institutional investors (FIIs) were net sellers in the capital markets, pulling out Rs 89.38 crore Friday, while domestic institutional investors bought shares worth Rs 275.63 crore, as per provisional data.

The 10-year government bond yield was at 6.64 per cent in the morning trade. PTI

Comments

comments

Related Articles

Polls

Will the Modi-Xi Informal summit boost up India-China ties ?

View Results

Loading ... Loading ...

E-paper Latest Edition

Subscribe to our Digital Edition

Epaper

ADVERTISEMENT – INKASA INTERIORS

Inkasa Interiors | Interior Designer in Delhi

ADVERTISEMENT – Ponderosa Homes

Ponderosa Homes

50 SPIRITUAL APPETIZERS – VINOD DHAWAN

50-ad-Indiapost

It’s a lovely book. It feels energetically clear and light. It’s easy to read, dip in and out and most importantly it offers information without fluff! Blessings on this project.

Jac O’Keeffe
Spirituality teacher based in USA.

*Available on Amazon, Flipkart & other online stores*

ADVERTISEMENT – Star Tours

Star Tours

ADVERTISEMENT – Global Holidays

Global Holidays Early Bird Discounts

POPULAR CATEGORIES

Follow us On Twitter

CM pays ... - https://t.co/UIHMbjcpQ3 Get your news featured use #IndiaPostUSA #AllIndiaCongressCommittee… https://t.co/0nfDeAKEHA
h J R
@Indiapost_News
Heritage Walk to connect the people with the philosophy of Guru ... - https://t.co/UkHQD4BSAs Get your news featur… https://t.co/ofu6F4o4Gz
h J R
@Indiapost_News
Dream to take a dip in Baba Nanak's Kali Bein to come true - https://t.co/tKJZChjpK5 Get your news featured use… https://t.co/NPT4XZF0ep
h J R
@Indiapost_News
#LPU engineering student bags Rs 42-lakh Job ... - https://t.co/tiz2FzpDGc Get your news featured use… https://t.co/A7SY1ITE45
h J R
@Indiapost_News

Facebook

Subscribe To Our Mailing List

Enter your email address:

Delivered by FeedBurner

Subscribe to IndiaPost by Email

Download Media Kit

India Post Media Kit