Rupee Closes Lower At 68.92 Against Dollar

Foreign institutional investors remained net sellers in the capital markets, pulling out Rs 1,916 crore on Monday, provisional data on the NSE showed

Rupee Closes Lower At 68.92 Against Dollar

The rupee had settled at 68.80 against the dollar on Friday breaking a three-day fall

The rupee closed 12 paise lower against the US dollar on Monday, reported news agency Press Trust of India (PTI). The fall in rupee came on the back of losses in the domestic equity markets and a spike in crude oil prices overseas. Strength in the US dollar against major peers also weighed on the rupee sentiment, forex dealers said. The rupee opened lower at 68.95 against the dollar and breached the 69-mark to touch an intraday low of 69.06. The rupee finally settled at 68.92 against the dollar.  

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

1. The rupee had settled at 68.80 against the dollar on Friday breaking a three-day fall.

2. "Indian sovereign bonds fell after the Reserve Bank of India Governor Shaktikanta Das said further rate cuts will depend on incoming economic data. This statement has turned down the expectations of large easing in upcoming monetary policy," Press Trust of India quoted VK Sharma, head PCG & capital markets strategy, HDFC Securities, as saying.              

3. Brent crude futures, the global benchmark for oil, rose 1.49 per cent to $63.40 per barrel.

4. The S&P BSE Sensex and NSE Nifty 50 indexes fell for third day in a row as financial and banking sector shares came under selling pressure. The Sensex plunged 306 points to close at 38,031 and the Nifty50 index ended 73 points lower at 11,346.

5. Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 1,916.91 crore on Monday, provisional data on the NSE showed.

(With PTI inputs) 

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