News Nation Logo

Rupee falls 27 paise to 69.70 against US dollar

At The Interbank Foreign Exchange, The Rupee Opened Weak At 69.60 Then Fell Further To 69.70 Against The American Currency, Down 27 Paise Over Its Previous Closing Price

PTI | Updated on: 02 Jan 2019, 10:09:40 AM
The rupee depreciated by 23 paise and fell to 69.70 per dollar mark in early trade on Wednesday

Mumbai:

The rupee depreciated by 23 paise and fell to 69.70 per dollar mark in early trade on Wednesday amid strengthening of the American currency and lower opening in domestic equities. Forex traders said sustained foreign fund outflows also weighed on the local unit. However, lower crude oil prices capped the losses. At the Interbank Foreign Exchange, the rupee opened weak at 69.60 then fell further to 69.70 against the American currency, down 27 paise over its previous closing price.

ALSO READ | Sensex drops over 200 points; Nifty slips below 10,900

On Tuesday, the rupee had appreciated 34 paise to 69.43 against the American currency.

Meanwhile, foreign funds pulled out Rs 48.19 crore from the capital markets on a net basis, while domestic institutional investors bought shares worth Rs 142.58 crore Tuesday, provisional data showed.

Brent crude, the global benchmark, was trading lower at 53.59 per barrel, lower by 0.58 per cent.

ALSO READ | Petrol, diesel prices slashed yet again, check January 2 rates here

The BSE benchmark Sensex Wednesday dropped over 200 points and NSE Nifty fell below the 10,900 mark on selloff in metal and auto stocks amid weak cues from other Asian markets and foreign fund outflow. 

For all the Latest Business News, Download News Nation Android and iOS Mobile Apps.

First Published : 02 Jan 2019, 10:09:30 AM

Videos