Breaking News : Mehbooba congratulates JU for making it to country’s top 60 autonomous institutions       North Kashmir gunfight: Toll touches 10 including five militants       CM pays tributes to Police, Army personnel killed in Kupwara gunfight       #BasantFactor continues in valley; challans illegal Rehri establishments in Srinagar      
 Rupee weakens 4 paise in opening trade


Rupee weakens 4 paise in opening trade

Published on :27 Feb,2018 By :- Universal News Timeline

Girl in a jacket
New Delhi:

The rupee depreciated 4 paise to 64.83 against the US dollar in opening trade at the forex market due to increased demand for the US currency from importers amid sustained foreign funds outflow, news agency PTI reported Tuesday.

However, a weak dollar in global markets helped the rupee limit its losses, dealers said.

Asian currencies were trading lower as investors look for cues from Jerome Powell’s first public comments at the House Financial Services Committee today to discuss the US Fed’s Semi-Annual Monetary Policy Report and the state of the economy.

On Monday the rupee had lost 6 paise to end at 64.79 against the US currency due to fag-end dollar demand from importers and corporates.

Meanwhile, the benchmark Sensex rose 132.64 points, or 0.38 percent, to 34,578.39 in early trade.

Foreign investors pulled out a net Rs 1,119.51 crore from stocks on Monday.

Sponsored by : Nexa Peaks Auto