Rupee falls 2 paise to 84.49 against US dollar in early trade

Mumbai, Nov 29: The rupee fell 2 paise to trade at 84.49 against the US dollar in early trade on Friday dragged down by significant foreign fund outflows and month-end dollar demand from importers.

Forex traders said the rupee remains in a weakening mode due to dollar demand from importers and foreign banks.

At the interbank foreign exchange, the rupee opened at 84.49 against the greenback, registering a fall of 2 paise over its previous close.

On Thursday, the rupee depreciated 7 paise to close at 84.47 against US dollar.

As FPIs sold Rs 11,000 crore of shares on Thursday Indian rupee was constantly on the selling side against the US dollar which surged to its highest at 84.51 before closing at 84.4850 with the Reserve Bank of India (RBI) protecting any fall beyond 84.50 for now, Anil Kumar Bhansali, Head of Treasury and Executive Director Finrex Treasury Advisors LLP said.

“Good month-end demand for US dollar and FPIs buying it kept dollar well bid near to 84.50. Expect the buying to continue on Friday also,” Bhansali added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading lower by 0.18 per cent at 105.85.

Brent crude, the global oil benchmark, rose 0.14 per cent to USD 73.38 per barrel in futures trade.

In the domestic equity market, the 30-share BSE Sensex rose 396.99 points or 0.50 per cent to 79,440.73 in morning trade, while Nifty was up 128.00 points or 0.54 per cent to 24,042.15 points.

Foreign Institutional Investors (FIIs) offloaded Rs 11,756.25 crore in the capital markets on net basis on Thursday, according to exchange data. (PTI)

Hot this week

ANSAM rejects Kuki’s separate administration demand, says bifurcation not acceptable

Guwahati, Sept 8: Rejecting the separate administration demand of...

Meghalaya’s historic fiber paves the way for eco-friendly products and sustainable livelihoods

By Roopak Goswami Shillong, Oct 25: From making earbuds to...

Speeding truck rams Tura night bus, 4 passengers injured

Tura, Sept 5: Four passengers onboard a night bus...

The Baghmara connection to Meghalaya’s political history

Tura, Aug 17: For many in the state, Baghmara...

Attacks on minorities in Bangladesh: Indian Chakmas call for export ban

CDFI blames ISI, Islamic terrorists for Bangladesh unrest Guwahati Sept...

HC seeks ‘heritage status’ of St Anthony’s building

Shillong, Dec 10: The Meghalaya High Court on Monday...

Govt okays 100-cr package to shut down defunct MCCL  

Shillong, Dec 10: After successive governments’ indecisions and failed...

India expresses concern over safety of minorities in B’desh

Dhaka, Dec 9: India raised its concerns over the...

Hasina slams Yunus regime as fascist, vows justice for atrocities

Dhaka/Kolkata, Dec 9: Bangladesh's deposed premier Sheikh Hasina has...

RS adjourned amid uproar over Cong-Soros links

New Delhi, Dec 9: Rajya Sabha proceedings were disrupted...

No ‘jatha’ will march to Delhi today: Punjab farmer leader Pandher

Chandigarh, Dec 9: Punjab farmer leader Sarwan Singh Pandher...

Mamata responds to reported threats by some Bangladeshi leaders

Kolkata, Dec 9: Taking a dig at a section...
spot_img

Related Articles

Popular Categories

spot_imgspot_img