BCN-10 Rupee falls 20 paise to 71.76 vs USD in early trade

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ZCZC

BCN-10

INDIA-RUPEE-USD

Rupee falls 20 paise to 71.76 vs USD in early trade

Mumbai, Feb 7, 2019 (BSS/PTI) – The rupee Thursday depreciated 20 paise to
71.76 in early trade at the forex market ahead of the Reserve Bank of India’s
interest rate decision.

The domestic currency has been trading in a narrow range in the last two
trading sessions as investors were cautious ahead RBI’s Monetary Policy
Committee outcome scheduled to be announced later in the day.

Forex traders said positive opening in domestic equities, fresh foreign
fund inflows and easing crude prices, however, capped the losses for the
domestic unit.

At the Interbank Foreign Exchange, the rupee opened on a weak note at 71.73
then fell further to 71.76 against the US dollar, showing a decline of 20
paise over its previous closing.

On Wednesday, the rupee had settled 1 paise higher at 71.56 against the US
dollar.

Foreign funds purchased shares worth Rs 694.97 crore on a net basis, and
domestic institutional investors bought shares worth Rs 525.26 crore
Wednesday, provisional data showed.

The global benchmark, brent crude oil was trading at USD 62.46 per barrel,
lower by 0.32 per cent.

Meanwhile, domestic equity market opened on a higher note. The 30-share BSE
benchmark Sensex, was trading at 37,081.76, up 106.55 points in early trade;
and the wide-based Nifty was also trading up by 30.30 points at 11,092.75.

BSS/PTI/HR/1052