Rupee Falls Against Dollar As Exports Decline For First Time In June In 9 Months

The rupee fell 17 paise against the US dollar on Tuesday, news agency Press Trust of India (PTI) reported. At the interbank foreign exchange (forex) market, the rupee opened lower at 68.59 per dollar. The domestic currency hovered between 68.59 and 68.76 against the greenback in the intraday trade to finally settle at 68.71. The depreciation came on the back of rising crude oil prices and foreign fund outflows. A strengthening US dollar against major currencies overseas also weighed on the rupee sentiment, Press Trust of India quoted forex traders as saying.

Here are 5 things to know about rupee-dollar rate today:

1. The rupee had settled at 68.54, up 15 paise, against the dollar on Monday.

2. India's exports declined for the first time in nine months in June hit by trade tensions between the US and China. Trade deficit narrowed to $15.28 billion in June from $16.6 billion in the same month last year, the government said on Monday.

3. Brent crude futures, the global benchmark for oil, rose 0.32 per cent to $66.69 per barrel.

4. Foreign institutional investors (FIIs) remained net sellers in the equity markets. FIIs sold shares worth Rs 444.99 crore on Tuesday, provisional data on NSE showed.

5. The equity benchmark indices rose for the second session in a row. The BSE Sensex ended 0.6 per cent or 234 points higher at 39,131.04 and the NSE Nifty 50 Index climbed 73 points or 0.63 per cent to settle at 11,661.05.

(With agency inputs)