Rupee depreciates 9 paise to 69.20 against US dollar in early trade

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MUMBAI: The rupee depreciated 9 paise to 69.20 against the US dollar in opening trade on Thursday.


“Strengthening of the American currency in the overseas market weighed on the domestic currency”, Forex dealers said.

However, sustained foreign fund inflows supported the rupee and restricted the fall.

The rupee opened weak at 69.15 at the interbank forex market, then fell further to 69.20 down 9 paise against its last close.

However, the local currency pared the initial loss and was trading at 69.15 at 0940 hrs.

On Wednesday, the rupee had strengthened by 19 paise to 69.11 against the US dollar.

As per the provisional data, Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 1,429.92 crore on Wednesday.

Meanwhile, brent crude futures, the global oil benchmark, fell 0.49 per cent to trade at USD 71.38 per barrel.

Indian bourses opened on a cautious note on Thursday, with benchmark indices Sensex trading 20.31 points up at 38,605.66 and Nifty was quoted at 11,595.95 points, up 11.65 points.

 

With inputs from PTI

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