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Rupee Open With 6 Paisa Decline, Came At 77.50 Rupee Per Dollar

Rupee to Dollar: The rupee fell by 6 paise to...

Rupee to Dollar: The rupee fell by 6 paise to 77.50 against the US dollar in early trade on Wednesday due to continuous outflow of foreign funds and strengthening of the US currency in overseas markets. Forex traders said rising crude oil prices weighed on the rupee, though firming in the domestic equity market limited the rupee’s fall.

In the interbank foreign exchange market, the rupee opened weak at 77.57 against the US dollar, and then came down to 77.50 with a slight improvement. Today the rupee which has opened at the level of 77.50 is showing weakness of 6 paise against the previous closing price of 77.44.

In the early deals, the local currency traded in a range of 77.57 to 77.48. Meanwhile, the dollar index, reflecting the position of the US dollar against the six major currencies, rose 0.11 per cent to 103.47.

Global oil standard Brent crude futures were up 0.38 per cent at $112.36 per barrel. Meanwhile, international oil standard Brent crude rose 0.4 percent to $ 112.35 per barrel. According to provisional data of the stock market, foreign institutional investors sold shares worth a net Rs 2,192.44 crore on Tuesday.

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