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Rupee slips 7 paise to 75.72 against US dollar

Wed May 20 2020



The rupee opened 6 paise higher at 75.60 against the US dollar on Wednesday, but fell in later.


At the interbank foreign exchange, the rupee opened at 75.60 against the dollar. At 10.55 am, the rupee was quoted at 75.72, down by 7 paise from its previous close


On Tuesday, the rupee had settled at 75.66 against the US dollar.


Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.09 per cent higher at 99.46.


Traders said investor sentiment remained fragile amid concerns over the impact of coronavirus outbreak on the domestic as well as global economy.


Globally, over 48.97 lakh people have been infected by the virus and over 3.23 lakh have died.


In India, the death toll due to COVID-19 rose to 3,303 and the number of cases climbed to 1.06 lakh, according to the health ministry.


Meanwhile, foreign institutional investors were net sellers in the capital market as they sold equity shares worth ₹1,328.31 crore on Tuesday, according to provisional exchange data.


Brent crude futures, the global oil benchmark, rose 0.81 per cent to $34.93 per barrel.



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