Rupee depreciates against US dollar in opening trade

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MUMBAI: The rupee slipped to 70.93 against the US currency in opening trade on Friday.


The domestic currency was trading lower by 5 paise at 70.93 at 0925 hrs against the US currency.

The rupee moved in a range of 70.93 to 70.89 at the interbank foreign exchange market in opening trade.

On Thursday, the rupee had closed at 70.88 on foreign fund inflows.

The Brent North Sea crude declined 0.8 per cent to USD 62.21 per barrel.

According to provisional exchange data, Foreign institutional investors (FIIs), who were net sellers for the last few sessions, bought equities worth a net Rs 737.17 crore on Thursday.

Domestic stocks declined in the early trade amid weak global cues. Market benchmark BSE Sensex was down by 14.91 points or 0.04 per cent at 38,974.83.

Meanwhile, the broader NSE Nifty slipped by 18.3 points or 0.16 per cent to 11,552.90.

 

With inputs from PTI

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