Rupee slips from early gains, down 5 paise against USD

0

The rupee slipped from its initial gains, declining 5 paise at Rs 68.18 against the US dollar in late morning deals following bouts of American currency demand from importers amid drop in domestic equities as well as bullish dollar overseas.

Also Read:  Rupee cracks 68-level, tumbles 32 paise

rupee slipped

The rupee opened higher at 68.10 per dollar as against last Friday’s closing level of 68.13 at the Interank Foreign Exchange (Forex) market.

Later, it hovered in the range of 68.19 to 68.09 per dollar during the morning deals, before quoting 68.18 at 1030 hrs.

Also Read:  Excise duty on petrol hiked by Rs 1 per litre, diesel by Rs 1.50, 4th hike in over one month

The dollar Index is trading down by 0.11 percent at 101.30 against a basket of six currencies.

Overseas, the US dollar was up to a six-month high against major rivals in early Asian trade, as investors continued to back bets that the administration of President-elect Donald Trump would embark on expansionary fiscal policies and boost growth.

Also Read:  Micromax, Celkon to build manufacturing units Telangana

Meanwhile, the benchmark BSE Sensex was trading lower by 265.89 points or 1.02 per cent at 25,884.35 at 1050 hrs.

LEAVE A REPLY

Please enter your comment!
Please enter your name here