Business

Rupee Breaks 3-Day Upward Trend, Slips 36 Paise Against US Dollar

   Download Android App    Share in      FullScreen   CheckVideos

INR Vs USD: Spurt in dollar demand amid sustained foreign fund outflows weighed on the rupee.MUMBAI: The rupee dropped 36 paise to 73.93 against the US currency in early trade Monday, breaking its three-day recovery trend, as crude prices rose amid weak macro-economic data.A spurt in dollar demand from importers amid sustained foreign fund outflows also weighed on the rupee.Dealers said, factors like the dollar's strength against some other currencies overseas and a volatile opening of the equity markets also impacted the domestic currency.Industrial production slipped to a three-month low of 4.3 per cent in August and retail inflation rose marginally to 3.77 per cent in September, according to the data released by Central Statistics Office Friday.On Friday, the rupee had ended 55 paise higher at 73.57 against the dollar, as global crude prices eased and domestic indices staged a smart rebound.Foreign institutional investors (FIIs) sold shares to tune of Rs 1,322 crore Friday, provisional data showed.The benchmark BSE Sensex fell by 70.85 points, or 0.20 per cent, to 34,662.73 in early trade after crossing the key 35,000-mark to hit a high of 35,008.65 at the outset.(Except for the headline, this story has not been edited by TheIndianSubcontinent staff and is published from a syndicated feed.)




Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021

Buy Our Merchandise (Peace Series)

 

Contribute US to Start Broadcasting


It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm

STRIPE

Details
Category: Business


20