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Rupee slips 32 paise to 69.24 vs USD in early trade

Press Trust of India  |  Mumbai 

The depreciated by 32 paise to 69.24 against the US in early trade Friday owing to increased demand for the from importers and banks.

At the Foreign Exchange, the opened on a weak note at 69.04 then fell further to 69.24 against the US dollar, showing a decline of 32 paise over its previous closing.

The local unit, however, pared some losses and was quoted at 69.18 against the American at 0941 hrs.

The Indian Thursday climbed 19 paise to close at 68.92 against the US

Forex traders said the strengthening of the vis-a-vis other currencies overseas and rising in overseas market added pressure to the domestic unit.

However, foreign fund inflows and higher opening in domestic equity market restricted the fall in the local unit.

Foreign institutional investors (FIIs) put in Rs 476.51 crore on a net basis Thursday, provisional data showed.

Brent crude futures, the global oil benchmark, rose 0.27 per cent to USD 71.02 per barrel.

Meanwhile, domestic bourses opened on a bullish note Friday. The BSE gauge Sensex was trading at 38,718.67, higher by 109.52 points while the NSE Nifty was trading at 11,624.70 up by 28.00 points in early trade.

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

First Published: Fri, April 12 2019. 09:51 IST