The rupee fell 19 paise to 69.15 against the US dollar in early trade Wednesday after crude price rose to a four-month high in global market amid increased demand for the American currency from importers.
At the interbank forex market, the rupee opened lower at 69.11 and weakened further to 69.17 on increased demand from importers. However, it recovered partially to quote 15 paise down at 69.15 against the dollar.
Forex dealers said crude price surge to a four-month high of USD 67.47 per barrel overseas weighed on the Indian unit, but weakness in the dollar against a basket of currencies limited the fall.
Halting its six-day winning run, the Indian rupee Tuesday edged lower by 43 paise to close at 68.96 against the US dollar on emergence of demand for the greenback from importers.
Meanwhile, foreign institutional investors (FIIs) bought shares worth Rs 2,132.36 crore on a net basis Tuesday, provisional data showed.
The benchmark BSE Sensex gained 28.74 points, or 0.07 per cent, to 38,392.21 in early deals.
Disclaimer: No Business Standard Journalist was involved in creation of this content
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