Categories: Business

The rupee weakened in early trade due to the fall in the domestic stock market, plunged 31 paise to 76.10.


Rupee falls sharply against US dollar today, slides past 76 per USD

new Delhi. The rupee fell 31 paise to 76.10 against the dollar in early trade on Friday. According to currency traders, the improvement in the dollar against other global currencies, the soft start of domestic stock markets and the withdrawal of foreign capital influenced investor sentiment. In addition, the growing concern over the Corona virus crisis also affected the market.

The rupee opened with a weak trend on the interbank foreign exchange market. In the morning, it was down 31 paise to Rs 76.10 per dollar from the previous closing level. The rupee had closed at 75.79 against the dollar on Thursday. The market is also awaiting the release of consumer price index and industrial production index during the day. According to preliminary data, foreign portfolio investors pulled out Rs 805.14 crore on Thursday. Brent crude oil fell 1.7 percent to $ 38.06 a barrel.

The Sensex lost 1,100 points in early trade on Friday, with a steep fall. The main reason for this is the global sell-off due to concerns about the recovery in the economy after the onset of the second cycle of corona virus epidemic in the US. The BSE Sensex started at a low of 32,436.69 points. Later, there was a slight improvement, but in the morning trade it is down 813.26 points, or 2.30 percent, from the previous close at 32,725.11 points. Similarly, the National Stock Exchange's Nifty is trading 228.15 points, or 2.30 per cent, at 9,673.85 points.

The Sensex closed at 33,538.37 points and the Nifty closed at 9,902 in the previous session. According to brokers, the negative trend in global markets, withdrawal of foreign capital and growing concerns about corona virus affected the domestic stock market.

This post was published on June 12, 2020 1:15 pm

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