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    Home / News / Business News / Rupee falls 10p to 70.89 against USD in early trade
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    Rupee falls 10p to 70.89 against USD in early trade

    Rupee falls 10p to 70.89 against USD in early trade

    By Aakanksha Raghuvanshi
    (PTI desk)
    Nov 28, 2018
    02:34 pm

    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.

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