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Rupee slips 7 paise to 69.24 vs USD in early trade

Press Trust of India  |  Mumbai 

The fell 7 paise to 69.24 against the US in opening trade Monday on increased demand for the from importers and banks.

Forex dealers said strengthening of the American in the overseas market weighed on the domestic unit.

However, sustained foreign fund inflows and positive opening in domestic equities supported the and restricted the fall.

The opened strong at 69.07 at the interbank forex market, then lost ground and fell to 69.24 down 7 paise over its last close.

The rupee had settled at 69.17 against the US on Friday.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 897.45 crore Friday, as per provisional data.

Meanwhile, brent crude futures, the global oil benchmark, fell 0.14 per cent to trade at USD 71.45 per barrel.

Benchmark equity index Sensex was trading 78.27 points up at 38,845.38, and the broader Nifty was at 11,671.20 points, up 27.75 points.

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

First Published: Mon, April 15 2019. 09:55 IST