Rupee Slips 23 Paise Against US Dollar In Early Trade

The rupee traded 23 paise lower at 73.79 as compared to its previous close of 73.56, against the US dollar in early trade on Tuesday, reported news agency Press Trust of India (PTI). The rupee lost 24 paise or 0.3 per cent against the greenback on Monday. Increased demand for the American currency from importers and sustained foreign fund outflows weighed on the rupee, dealers were quoted as saying in the PTI report. A weak opening of the domestic share markets also hurt the rupee, they said. 

At the interbank foreign exchange, the rupee opened weak at 73.74 then slipped further.

The S&P BSE Sensex cracked below the 34,000-mark in early trade. At 10:16 am, the Sensex traded at 33,993.26, down 141.12 points or 0.41 per cent. The Nifty50 index of the National Stock Exchange traded below the crucial 10,200 level at 10,192.45, with a loss of 52.80  points or 0.52 per cent.

On Monday, foreign portfolio investors sold net equities worth Rs. 511.91 crore, showed provisional data from the NSE. (With PTI inputs)