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Rupee drops 7 paise against dollar in opening trade

Fri Jan 08 2021

Dollar rebounds amid rising crude oil prices

The rupee furthered its loss by 7 paise to trade at 73.38 against the US dollar in opening deals on Friday, reeling under pressure from a rebound in the American currency against key rivals and rising crude oil prices.

At the interbank foreign exchange market, the Indian unit traded in a small range of 73.35-73.39 in early deals.

The rupee had closed 20 paise lower at 73.31 a dollar on Thursday.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.03 per cent to 89.85.

Global crude oil benchmark Brent was trading higher by 0.17 per cent at $54.61 per barrel.

Foreign investors bought shares worth Rs 382.30 crore on a net basis on Thursday, according to exchange data.

Source: www.thehindubusinessline.com

 

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