Rupee Moves Lower To 68.67 Against Dollar

The rupee on Wednesday moved in a range of 18 paise against the dollar in intraday trade. The domestic currency rose by 2 paise to hit a high of 68.49 against the greenback and slipped by up to 16 paise to an intraday low of 68.67. In afternoon deals, the domestic currency was trading lower at 68.55, down by 4 paise. The rupee had closed at 68.51 against the dollar on Tuesday. The domestic currency fell amid unabated foreign fund outflows and rising crude oil prices, reported news agency Press Trust of India.

The dollar index, which gauges the greenback's strength against a basket of six currencies, inched up 0.02 per cent to 97.51. 

Meanwhile, in domestic stock markets, the S&P BSE Sensex was trading 0.62 per cent or 241.64 points lower at 38,489.18. The benchmark Nifty 50 index of the National Stock Exchange (NSE) moved in a range of 11,477.75 and 11,593.70. At 1:06, the index was down 0.63 per cent at 11,483.50.

Brent crude futures, the global oil benchmark, climbed 0.89 per cent to $64.73 per barrel. The 10-year government bond yield was at 6.60 per cent in morning trade.

Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 674.26 crore on Tuesday, while domestic institutional investors bought shares worth Rs 710.91 crore, according to provisional data available with the NSE.