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Rupee Slips 7 Paise Against US Dollar

The domestic unit hovered in wide range of gains and losses between 71.62 and 71.95 during morning deals.

Rupee Slips 7 Paise Against US Dollar
Rupee Slips 7 Paise Against US Dollar
outlookindia.com
2018-09-06T12:59:19+0530

The Indian rupee on Thursday have again fallen 7 paise to 71.82 against the US dollar. This came after the rupee witnessed pared initial gains in the morning.

Earlier, the rupee resumed higher at 71.62 against on Wednesday closing level of 71.75 a dollar at the interbank foreign exchange market here.

The domestic unit hovered in wide range of gains and losses between 71.62 and 71.95 during morning deals. It was trading at 71.82 per dollar at 1035 hrs.

"Rupee continued to be ruled by speculation, pressured by crisis in emerging market currencies, escalating trade war tensions and rising crude," a dealer said.

Overseas, the US dollar fell against a basket of currencies in early Asian trade, as the pound led a bounce in European currencies; although skittish emerging market currencies and global trade concerns limited the greenback's losses.

Meanwhile, the 30-share BSE Sensex is trading higher by 168.58 points, or 0.44 per cent, at 38,186.89 at 1105 hrs.

(PTI)

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