Rupee Slips 32 Paise to 73.89 against US Dollar as Domestic Equities Sell-off Weigh Investor Sentiment

The rupee depreciated 32 paise to settle at 73.89 (provisional) against the US dollar on Thursday as sell-off in domestic equities and foreign fund outflows weighed on investor sentiment.

At the interbank forex market, the rupee opened on a weak note at 73.82, then fell further to finally close at 73.89 against the American currency, registering a fall of 32 paise over its last close.

On Wednesday, the rupee appreciated by one paisa to settle at 73.57 against the US dollar. During the session, the local unit witnessed an intra-day high of 73.75 and a low of 73.96 against the greenback.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.04 per cent to 94.42. On the domestic equity market front, BSE benchmark Sensex was trading 798.06 points lower at 36,870.36, and broader NSE Nifty plunged 235 points to 10,896.85.

Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 3,912.44 crore on Wednesday, according to provisional exchange data. Brent crude futures, the global oil benchmark, fell 0.77 per cent to USD 41.45 per barrel.