Rupee slips 3 paise to 73.18 against US dollar in early trade
The rupee opened on a flat note and depreciated by 3 paise to 73.18 against the US dollar in opening trade on Thursday tracking the muted opening in domestic equities.
At the interbank forex market, the domestic unit opened at 73.18 against the US dollar, registering a fall of 3 paise over its previous close.
On Wednesday, the rupee had settled at 73.15 against the American currency.
"FPI flows into the domestic equity markets could lift sentiments," Reliance Securities said in a research note and added that "RBI’s presence could cap gains”.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose marginally by 0.04 per cent to 90.39.
Traders said investors remained cautious and await the US stimulus details as President-elect Joe Biden will outline his plans for massive fiscal stimulus.
Market participants are also looking for cues from the speech from Fed Chief Jerome Powell tonight.
The euro, the sterling and the Japanese yen were flat against the US dollar this morning in Asian trade.
On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 147.72 points lower at 49,344.60, and the broader NSE Nifty fell 44.60 points to 14,520.25.
Foreign institutional investors were net buyers in the capital market as they purchased shares worth ₹1,879.06 crore on a net basis on Wednesday, according to provisional exchange data.
Brent crude futures, the global oil benchmark, fell 0.32 per cent to USD 55.88 per barrel.
Enter your email to get our daily newsletter in your inbox
- Officials are worried that technical permitting decisions are being placed in the hands of political appointees, rather than expert regulators in the field. And they’re concerned permits -- or simply changes to them -- will be delayed for existing drilling operations.
- ED's money laundering probe in the PMC Bank case began after the Mumbai police registered a criminal case in September 2019 against HDIL, its promoters Rakesh Wadhawan and Sarang Wadhawan among others.
- Keeping chip production in-house may be bad for Intel because its manufacturing technology has fallen behind Taiwan Semiconductor Manufacturing Co., which makes chips for many of Intel’s rivals. If the US company can’t catch up, its products will become less competitive, lose sales and market share.