Rupee depreciates 24 paise to 71.36 against US dollar in early trade

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MUMBAI: The Indian rupee depreciated by 24 paise to 71.36 against the US dollar in early trade on Thursday.

At the interbank foreign exchange, the domestic currency witnessed heavy volatility in early trade.

The rupee opened at 71.36 per US dollar then touched a high of 71.15 and a low of 71.37.

On Wednesday, the rupee had settled for the day at 71.24 against the US dollar.

The domestic unit pared some losses and was trading at 71.23 against the dollar at 1010 hrs.

In line with market expectations, the Federal Open Market Committee lowered the policy interest rate by 25 basis points to a target range of 1.75 to 2.0 per cent.

Domestic bourses opened on a negative note on Thursday with benchmark indices Sensex trading 328.60 points down at 36,325.28 and Nifty lower by 59.40 points at 10,781.25.

According to provisional exchange data, Foreign institutional investors (FIIs), offloaded shares worth Rs 959.09 crore on Wednesday.

Meanwhile, brent crude futures, the global oil benchmark, rose 0.05 per cent to USD 63.63 per barrel.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.09 per cent to 98.47.

The 10-year government bond yield was at 6.59 per cent in morning trade.

 

With inputs from PTI

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