Rupee opens 23 paise lower at 69.11 against US dollar

The rupee opened 23 paise lower at 69.11 against the US dollar on Thursday amid weak global cues. The domestic unit weakened marginally by 2 paise to close at 68.88 on Wednesday on the strengthening of the American currency and robust selling in domestic equities. 

The currency consolidated in a narrow range on Wednesday ahead of the important fiscal number that will be released this week. After the RBI’s first ever rupee-dollar swap auction, the rupee came under pressure, said Gaurang Somaiya, Research Analyst (Currency) at Motilal Oswal Financial Services. 

In the auction, RBI bought dollars totaling $5.02 billion at a premium