You are here: Home » Finance » Money & Forex Markets » News
Business Standard

Rupee slips 9 paise to 73.55 against US dollar in early trade

The rupee depreciated 9 paise to 73.55 against the US dollar in opening trade on Friday tracking muted domestic equities

Topics
Rupee | US Dollar | Currency

Press Trust of India  |  Mumbai 

Rupee slips 9 paise to 73.55 against US dollar in early trade

The depreciated 9 paise to 73.55 against the in opening trade on Friday tracking muted domestic equities.

The local unit opened at 73.50 at the interbank forex market, then lost ground and touched 73.55 against the US dollar, down 9 paise over its last close of 73.46.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.07 per cent to 93.26.

Forex traders said India-China border standoff dampened investor sentiment. Moreover, a roadblock in coronavirus vaccine trials also weighed on the local unit.

India and China have agreed on a five-point roadmap including quick disengagement of troops and avoiding any action that could escalate tensions for resolving the four-month-long face-off in eastern Ladakh.

Meanwhile, Serum Institute of India on Thursday said it is putting on hold clinical trials of an experimental COVID-19 vaccine for which it has been enlisted to manufacture a billion doses.

India's COVID-19 caseload sprinted past 45 lakh and the death toll climbed to 76,271 with a record 96,551 infections and 1,209 fatalities being reported in a day, while the recoveries crossed 35 lakh on Friday, according to the Union Health Ministry data.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 15.97 points higher at 38,856.29 and the broader NSE Nifty rose 5.15 points to 11,454.40.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 838.37 crore on a net basis on Thursday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, fell 0.40 per cent to USD 39.90 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.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Fri, September 11 2020. 11:47 IST
RECOMMENDED FOR YOU
.