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Rupee slips 11 paise to 69.61 vs USD in early trade

The rupee opened weak at 69.55 at the interbank forex market and then fell further to 69.61, down 11 paise over its last close.

business Updated: Jun 14, 2019 10:24 IST
Press Trust of India
Press Trust of India
Mumbai
Rupee slips,USD,early trade
Forex traders said, rupee is trading in a narrow range as prospects of an interest rate cut by the US Federal Reserve kept investors edgy.(Bloomberg File Photo)

The rupee opened on a weak note and declined by 11 paise to 69.61 against the US dollar in opening trade Friday, as rising crude oil price concerns weighed on investor community.

The rupee opened weak at 69.55 at the interbank forex market and then fell further to 69.61, down 11 paise over its last close.

The rupee had settled at 69.50 against the US dollar on Thursday.

Forex traders said, rupee is trading in a narrow range as prospects of an interest rate cut by the US Federal Reserve kept investors edgy.

Besides, strengthening of the American currency in the overseas market and weak opening in domestic equities weighed on the local unit.

Meanwhile, foreign fund inflows supported the domestic currency.

Also read: Auto in slow lane: Making sense of crash in car sales

Brent crude futures, the global oil benchmark, rose 0.47 per cent to USD 61.60 per barrel.

Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 172.35 crore Thursday, as per provisional data.

Domestic bourses opened on a cautious note Friday with benchmark indices Sensex trading 76.97 points down at 39,664.39 and Nifty down 28.25 points at 11,885.80.

First Published: Jun 14, 2019 10:22 IST