Rupee Slips By 26 Paise/Dollar As Investors Eye RBI Decision: 5 Points

05 Dec 2018, 01:59 PM IST

INR Vs USD: Investors were treading the cautious path ahead of the RBI policy decision

Investors were treading the cautious path ahead of the RBI policy decision. A poll by news agency Reuters forecast that the monetary policy committee would hold its repo rate steady.
Fresh demand for the American currency from importers weighed on the domestic unit, forex dealers were quoted as saying in the PTI report.
The dollar index, which measures the greenback against a basket of six major currencies, edged up about 0.2 per cent, even though the US currency was under pressure as declining Treasury yields raised concerns over economic growth, reported Reuters.
After foreign funds pulled out Rs 55.89 crore from the domestic equity markets on Tuesday, key benchmarks declined in trade on Wednesday. At 1:45 pm, the S&P BSE Sensex traded at 35,908.57, down 225.74 points or 0.62 per cent and the Nifty50 barometer of the National Stock Exchange (NSE) was at 10,793.45, with a loss of 76.05 points or 0.70 per cent.
As a swelling supply glut and signs of an economic slowdown weighed on crude, prices declined a day ahead of a meeting of Organisation of the Petroleum Exporting Countries, at which the producer club is expected to decide supply cuts. International Brent crude oil futures were at $61.16 per barrel at 0757 GMT or 1:27 pm IST, down 92 cents, or 1.5 per cent, from their last close. (With agency inputs)