Rupee gains
Rupee gains

The rupee slipped 33 paise to 73.65 against the US dollar in early trade on Thursday, amid the strengthening of the greenback in the overseas market.

At the interbank foreign exchange, the domestic unit opened at 73.65 against the dollar, registering a decline of 33 paise over its previous close.

On Wednesday, the rupee had settled at 73.32 against the American currency.

The Rupee started on a weaker note this Thursday against the greenback as the US Dollar surged higher after the Fed’s hawkish statement, Reliance Securities said in a research note.

Asian currencies have started weaker against the greenback this Thursday morning and will weigh on sentiments, the note said adding that the Reserve Bank of India could be present to curb volatility in the markets.

Meanwhile, global oil benchmark Brent crude futures fell 0.60 percent to USD 73.94 per barrel.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies rose 0.29 percent to 91.39.

On the domestic equity market front, BSE Sensex was trading 105.7 points or 0.20 percent lower at 52,396.28, while the broader NSE Nifty was down 33.55 points or 0.21 percent at 15,734.00.

Foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 870.29 crore, as per exchange data.

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Free Press Journal