Rupee Falls nine Paise to seventy nine.04 Against North American country dollar in Early Trade

Mumbai: The rupee depreciated nine paise to seventy nine.04 against the North American country dollar in gap trade on Tues, weighed down by persistent foreign funds outflows. At the interbank interchange, the rupee opened at seventy nine.04 against the North American country dollar, registering a decline of nine paise over the last shut.

On Monday, the rupee had closed at seventy eight.95 against the North American country dollar. consistent with Sriram Iyer, Senior analysis Analyst at Reliance Securities, the rupee is predicted to stay range-bound against the dollar this Tues.

“Stronger crude, weak Asian and rising market currencies, a rising dollar and benchmark bond yields might keep appreciation bias capped. However, equity futures in Asia have started with gains and will cap depreciation bias,” Iyer aforesaid. On the domestic equity market front, the 30-share Sensex was mercantilism 267.65 points or zero.50 per cent higher at fifty three,502.42, whereas the broader NSE cracking advanced eighty nine.10 points or zero.56 per cent to fifteen,924.45.

Meanwhile, the dollar index, that gauges the greenback’s strength against a basket of six currencies, was at 105.14. international oil benchmark goose crude futures fell zero.03 per cent to USD 113.47 per barrel.

Foreign institutional investors remained web sellers within the capital market on Monday as they offloaded shares price Rs a pair of,149.56 crore, as per exchange information.

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