Rupee slips 4 paise to 69.38 against US dollar in early trade

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MUMBAI: The rupee opened on a cautious note and fell 4 paise to 69.38 against the US dollar in early trade on Thursday.

 

“Weak macro data foreign fund outflows and cautious opening in domestic equities added pressure to the domestic unit”, Forex traders said.

At the Interbank Foreign Exchange, the rupee opened on at 69.33 then fell to 69.38 against the US dollar, showing a decline of 4 paise over its previous closing.

The local unit, however, pared some losses and was quoted at 69.37 against the American currency at 1005 hrs.

On Wednesday, the Indian rupee had closed at 69.34 against the US dollar.

According to the provisional data, Foreign institutional investors (FIIs) pulled out Rs 1,050.43 crore on a net basis on Wednesday.

Brent crude futures, the global oil benchmark, fell 0.13 per cent to USD 59.89 per barrel.

 

With inputs from PTI

 

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