Rupee weakens 4 paise against US dollar in opening trade

Image
Press Trust of India Mumbai
Last Updated : Feb 27 2018 | 9:35 AM IST
The rupee depreciated 4 paise to 64.83 against the US dollar in opening trade today at the forex market due to increased demand for the US currency from importers amid sustained foreign funds outflow.
However, a weak dollar in global markets helped the rupee limit its losses, dealers said.
Asian currencies were trading lower as investors look fro cues from Jerome Powells first public comments at the House Financial Services Committee today to discuss the US Feds Semi-Annual Monetary Policy Report and the state of the economy.
Yesterday, the rupee had lost 6 paise to end at 64.79 against the US currency due to fag-end dollar demand from importers and corporates.
Meanwhile, the benchmark Sensex rose 132.64 points, or 0.38 per cent, to 34,578.39 in early trade.
Foreign investors pulled out a net Rs 1,119.51 crore from stocks yesterday.

Disclaimer: No Business Standard Journalist was involved in creation of this content

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

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

More From This Section

First Published: Feb 27 2018 | 9:35 AM IST

Next Story