Rupee fell 20 paise to 83.33 against US dollar in early trade – Dainik Savera Times
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Mumbai: The rupee fell 20 paise to 83.33 against the US dollar on Friday due to the strengthening of the US dollar in global markets and buying of the American currency by importers. In the interbank foreign exchange market, the rupee opened at 83.28 against the previous closing level of 83.13. The rupee traded between 83.23 and 83.33 per dollar in early trade.
At 9.30 am, the rupee was trading at 83.33 per dollar, showing a decline of 20 paise over its previous close. The dollar index, which gauges the strength of the US dollar against six major currencies, was trading 0.72 percent higher at 104.17. The US dollar index retreated from the 104 level on Thursday after the Federal Open Market Committee (FOMC) kept the interest rates unchanged in the range of 5.25-5.5 percent.
Global oil benchmark Brent crude futures were trading 0.70 per cent lower at US$85.18 per barrel. Analysts said dollar demand from importers, mainly oil companies, and outflow of loan repayments weighed on the rupee. In the domestic stock markets, BSE’s 30-share Sensex fell 372.64 points to 72,268.55 in early trade, while Nifty fell 94.45 points to 21,917.50. According to stock market data, foreign institutional investors (FIIs) bought shares worth Rs 1,826.97 crore on Thursday. Sell.
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