Rupee falls 9 paise to 68.94 vs USD in early trade
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The rupee tumbled 9 paise to trade at 68.94 against the U.S. Dollar in early trade on July 31 amid unabated foreign fund outflows and rising crude oil prices.
The Rupee opened weak at 68.89 at the interbank forex market and slipped further to 68.94, showing a decline of 9 paise against its previous close.
The domestic unit had settled at 68.85 against the U.S. Dollar on July 30.
The domestic unit had settled at 68.85 against the U.S. Dollar on July 30.
Meanwhile, brent crude futures, the global oil benchmark, climbed 0.87% to $65.28 per barrel.
The 10-year government bond yield was at 6.36% in morning trade.
Forex traders said the Rupee is trading in a narrow range as market participants are awaiting cues from the outcome of the Federal Open Market Committee (FOMC) meeting later on July 31.
Besides, market participants were trading cautiously after U.S. President Donald Trump’s tweet threatened to disrupt U.S.-China trade talks.
“My team is negotiating with them now, but they always change the deal in the end to their benefit,” Trump tweeted.
Meanwhile, domestic bourses opened on a negative note day with benchmark indices Sensex trading 159.13 points down at 37,237.84 and Nifty up 46.50 points at 11,038.90.
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