Rupee falls 10p to 70.89 against USD in early trade
What's the story
The rupee depreciated by 10 paise to 70.89 against USD in early trade today at the interbank foreign exchange amid strengthening of the USD against some currencies overseas. Forex traders said besides increased demand of the US currency from importers, the dollar's strength against some currencies overseas weighed on the rupee, but a higher opening of the domestic equity markets, capped the losses.
Details
On net basis, foreign funds bought shares worth Rs. 811.52cr
The rupee opened lower at 70.88 per dollar against and dropped further to quote at 70.89, 10 paise down over its previous close. The rupee recovered by 8 paise to close at 70.79 against the USD yesterday on increased selling of the greenback by exporters and softening crude oil prices. Meanwhile, on net basis, foreign funds bought shares worth Rs. 811.52 crore.
Stock market
Sensex, Nifty opened on positive note for third successive session
Domestic Institutional Investors also purchased share to the tune of Rs. 31.21 crore yesterday, provisional data showed. The BSE benchmark Sensex opened on a positive note for the third successive session, rising nearly 200 points, on positive global cues ahead of key G20 and Opec meetings. The NSE Nifty too witnessed similar movement and was trading 35.20 points, or 0.35 %, lower at 10,725.60.