Rupee crosses 69-mark against US dollar in early trade, sheds 8 paise

06 July 2018, 10:44 AM
Rupee crosses 69-mark against US dollar in early trade, sheds 8 paise
Rupee crosses 69-mark against US dollar in early trade, sheds 8 paise

The rupee fell 8 paise to trade at 69.03 against the US dollar in early trade on Friday on appreciation of the American currency overseas and sustained foreign capital outflows.

This is the rupee's third straight slide, which dealers say is mostly due to demand for the US currency and a lower opening in the domestic equity market.

With the US set to impose tariffs on Chinese goods on Friday, investors feared it could trigger a full scale global trade war.

On Thursday, the rupee had tumbled 21 paise to fresh closing low of 68.95, following a panic demand for the US dollar coupled with savage capital flight worries.

Foreign portfolio investors (FPIs) sold shares worth Rs 159.37 crore on Thursday, as per provisional data.

Meanwhile, the benchmark Sensex down by 42.34 points or 0.11 per cent, to 35,532.21 in early trade.

First Published: Friday, July 06, 2018 10:42 AM
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