INR slips further amid dented investor sentiments

The Indian rupee depreciated 14 paise to close at 90.09 (provisional) against the US dollar on Monday, as elevated crude oil prices and persistent foreign fund outflows dented investor sentiments. Multiple pressures, such as sustained importer demand for the American currency, foreign fund outflows from equities, and lingering uncertainty over the India-US trade deal, are keeping investor sentiment fragile. The benchmark BSE Sensex slumped 609.68 points, or 0.71 percent, to 85,102.69, while the broader NSE Nifty index fell 225.90 points, or 0.86 percent, to 25,960.55. At the interbank foreign exchange market, the rupee opened at 90.07, then gave up ground and fell to an intra-day low of 90.26 against the US dollar, down 31 paise from its previous close.

 

Powered by Capital Market - Live News