Rupee slips 11 paise against dollar in early trade

DN Bureau

The rupee depreciated by 11 paise to 70.95 against the US dollar in morning trade on Wednesday, as investors were cautious ahead of the US Federal Reserve's interest rate decision.

Representative Image
Representative Image

Mumbai: The rupee depreciated by 11 paise to 70.95 against the US dollar in morning trade on Wednesday, as investors were cautious ahead of the US Federal Reserve's interest rate decision.

On Tuesday, the rupee had settled at 70.84 against the US dollar.

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The dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.02 per cent to 97.70. Meanwhile, the BSE Sensex pared some gains to trade 128.48 points, or 0.32 per cent, higher at 39,960.32, and the broader NSE Nifty advanced 35.85 points, or 0.30 per cent, to 11,822.70.

Foreign institutional investors remained net buyers in the capital markets, putting in Rs 876.64 crore on Tuesday, exchange data showed.

Also Read: Rupee opens on a flat note at 71.06 against US dollar

The 10-year government bond yield was at 6.51 per cent in morning trade.(PTI)

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