Rupee slips 16 paise to 69.10 vs USD in early trade

DN Bureau

The rupee opened on a weak note and declined by 16 paise to 69.10 against the US dollar in opening trade on Wednesday, amid sustained foreign fund outflows and rising crude oil prices.

File Photo

Mumbai: The rupee opened on a weak note and declined by 16 paise to 69.10 against the US dollar in opening trade on Wednesday, amid sustained foreign fund outflows and rising crude oil prices.

The rupee opened weak at 69.10 at the interbank forex market, down 16 paise over its last close. The rupee had settled at 68.94 against the US dollar on Tuesday.

Domestic bourses opened on a cautious note day with benchmark indices Sensex trading 100.39 points down at 37,882.35 and Nifty down 40.80 points at 11,290.25.

Meanwhile, the IMF on Tuesday cut its growth forecast for India for this year and the next saying its GDP will now grow respectively at the rate of 7 per cent in 2019, and 7.2 per cent in 2010, reflecting a weaker-than expected outlook for domestic demand. (PTI)

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