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Rupee slips 13 paise on dollar demand, inflation concerns

Press Trust of India  |  Mumbai 

The fell 13 paise to 67.62 against the US dollar in early trade today due to increased demand for the American from importers amid foreign fund outflows and rising retail

Retail jumped to a four-month high of 4.87 per cent in May on such as fruits, vegetables and cereals coupled with high fuel rates.

However, industrial production expanded by 4.9 per cent in April on improved performance by and sectors as also a robust offtake of capital goods.

Forex dealers said dollar strengthening against other currencies overseas as investors await a key Federal Reserve decision later in the day also weighed on the sentiment.

However, a higher opening in the domestic stock market limited the rupee's losses, they said.

Foreign institutional investors (FIIs) sold shares worth Rs 1,168.88 crore yesterday, as per the provisional data.

Yesterday, the had closed 7 paise down at 67.49 against the US

Meanwhile, the benchmark BSE Sensex rose 184.89 points, or 0.51 per cent, to 35,877.41 in early trade.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, June 13 2018. 09:40 IST