Profit

Rupee Edges Lower To 70.60 Against Dollar

Forex dealers said strengthening of the dollar in the overseas market weighed on the rupee.

 Share
EMAIL
PRINT
COMMENTS
Rupee Edges Lower To 70.60 Against Dollar

Foreign fund inflows, easing crude prices and gains in domestic equities supported the rupee


Mumbai: 

The rupee depreciated by 11 paise to 70.60 against the US dollar in opening trade on Wednesday, amid increased demand for the greenback from importers and banks.

Forex dealers said strengthening of the American currency in the overseas market weighed on the domestic currency.

However, fresh foreign fund inflows, easing crude prices and positive opening in domestic equities supported the rupee.

The rupee opened weak at 70.60 at the interbank forex market. It however pared the initial loss and was last seen trading at 70.55 against the greenback.

The rupee had on Tuesday strengthened by 43 paise to close at 70.49 against the dollar.

Foreign investors put in Rs 751.92 crore on a net basis in capital markets Tuesday, provisional exchange data showed.

Brent crude futures, the global benchmark for crude oil, eased 0.76 per cent to $65.36 per barrel. 



Get Breaking news, live coverage, and Latest News from India and around the world on NDTV.com. Catch all the Live TV action on NDTV 24x7 and NDTV India. Like us on Facebook or follow us on Twitter and Instagram for latest news and live news updates.

NDTV Beeps - your daily newsletter

................................ Advertisement ................................

................................ Advertisement ................................

................................ Advertisement ................................

Top