Dynamite News
Rupee slips 9 paise to 69.20 against USD in early trade
The rupee fell 9 paise to 69.20 against the US dollar in opening trade Thursday on increased demand for the greenback from importers and banks.
Mumbai: The rupee fell 9 paise to 69.20 against the US dollar in opening trade Thursday on increased demand for the greenback from importers and banks.
Forex dealers said, strengthening of the American currency in the overseas market weighed on the domestic currency.
However, sustained foreign fund inflows supported the rupee and restricted the fall. The rupee opened weak at 69.15 at the interbank forex market, then fell further to 69.20 down 9 paise against its last close. The local currency, however, pared the initial loss and was trading at 69.15 at 0940 hrs.
The rupee Wednesday had strengthened by 19 paise to 69.11 against the US dollar. Indian bourses opened on a cautious note Thursday, with benchmark indices Sensex trading 20.31 points up at 38,605.66 and Nifty was quoted at 11,595.95 points, up 11.65 points.(PTI)