Indiaherald Group of Publishers P LIMITED

X
close save
crop image
x
Tue, Oct 22, 2019 | Last Updated 8:33 pm IST

Menu &Sections

Search

Indian rupee fell 28 paise to 71.88 against US Dollar

Indian rupee fell 28 paise to 71.88 against US Dollar
Indian rupee fell 28 paise to 71.88 against US Dollar
http://apherald-nkywabj.stackpathdns.com/images/appleiconAPH72x72.png apherald.com

Reportedly the rupee opened on a cautious note and fell 28 paise to 71.88 against the US dollar in early trade on Tuesday amid rising demand for the US dollar vis-a-vis other currencies overseas. Meanwhile Forex traders said the drone attacks on saudi arabia's oil facilities have enthused demand for safe heaven assets like the US dollar.

Indian rupee fell 28 paise to 71.88 against US Dollar

Furthermore the dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.01 per cent to 98.61. Reportedly the Indian rupee on Monday had plunged by 68 paise to 71.60 against the US dollar amid concerns over soaring crude prices following drone attacks on Saudi Arabia's oil facilities. At the Interbank Foreign Exchange, the rupee opened at 71.83 then fell to 71.88 against the US dollar, showing a decline of 28 paise over its previous closing.



Moreover the Indian rupee on Monday had closed at 71.60 against the US dollar. Perhaps Forex traders said weak opening in domestic equities and unabated foreign fund outflows also weighed on the domestic currency. Also foreign institutional investors (FIIs), who were net buyers for the past few sessions, offloaded shares worth Rs 751.26 crore on Monday, according to provisional exchange data.


Indian rupee fell 28 paise to 71.88 against US Dollar
5/ 5 - (1 votes)
Add To Favourite
More from author
About the author

Nanotechnology Degree Holder. Movie Geek. Crazy about comics and cartoons. Hardcore Cricket Lover. Photoshop Professional