Sports Contest

Rupee falls 19 paise to 73.35 against US dollar in early trade

Mumbai, PTI | Updated : 25 October 2018, 09:46 AM
Rupee falls 19 paise to 73.35 against US dollar in early trade
Rupee falls 19 paise to 73.35 against US dollar in early trade

The rupee dropped by 19 paise to 73.35 against the US dollar in early trade Thursday amid unabated foreign fund outflows. Traders said increased demand for the US currency from importers and a lower opening of domestic equity market weighed on the local unit.

ALSO READ | Diwali Offer: Reliance Jio, Airtel and BSNL recharge packs compared

After opening lower at 73.33, rupee weakened further to quote at 73.35 against the dollar registering a fall of 19 paise.

The dollar's weakness against some currencies overseas and easing crude oil prices, however, restricted the rupee fall, they added.

Foreign investors pulled out Rs 2,040.54 crore from equity markets Wednesday, as per provisional data.

On Wednesday, the rupee strengthened by 41 paise to close at more than three-week high of 73.16 against the US currency as global crude oil prices eased and domestic equity markets staged a smart rebound.

ALSO READ | Aliens could be on Mars as it contains enough oxygenated water: Study

Meanwhile, the benchmark BSE Sensex plunged 301.49 points, or 0.89 per cent, to 33,732.47 in the opening trade.

First Published: Thursday, October 25, 2018 09:46 AM

Related Tags:

For all the latest Business News Download the News Nation App available on Android and iOS.