 "Rupee slips 6 paise to 73.42 against US dollar in early trade")
The rupee depreciated 6 paise to 73.42 against the US dollar in opening trade on Friday as forex market sentiment remained subdued amid concerns over resurgence in coronavirus cases in many parts globally.
Analysts said rising COVID-19 cases in eurozone and fresh round of lockdown in many countries weighed on investors sentiment.
On Thursday, the local currency settled at 73.36 against the greenback.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.05 per cent to 93.81.
On the domestic equity market front, the BSE benchmark Sensex was trading 160.58 points higher at 39,888.99, and the broader NSE Nifty rose 45.75 points to 11,726.10.
Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 604.07 crore on a net basis on Thursday, according to exchange data.
Brent crude futures, the global oil benchmark, fell 1 per cent to USD 42.73 per barrel.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app