Logo

Logo

# Business

Rupee opens 2 paise lower against US dollar

The rupee was trading lower by 2 paise at 64.91 against the dollar in opening trade on Thursday as the…

PTI | Mumbai | March 8, 2018 9:45 am

Rupee opens 2 paise lower against US dollar

Representational image Photo: Getty Images

The rupee was trading lower by 2 paise at 64.91 against the dollar in opening trade on Thursday as the American unit strengthened overseas amid foreign fund outflows.

Forex dealers said increased demand for the US currency from importers and the greenback’s gains against other currencies overseas after news of potential US tariff exemptions put pressure on the rupee.

In the opening session, the domestic unit fell by 2 paise to 64.91. On Thursday, it had gained 7 paise to close at a one-week high of 64.89 against the US currency due to sustained dollar selling by exporters and banks.

Advertisement

Meanwhile, the benchmark BSE Sensex rose 273.75 points, or 0.82 per cent, to 33,306.84 in early trade today.

Advertisement

Related posts

# Opinion

Rupee Surge

The Indian rupee’s surge to a two-month high on Thursday signals a broader shift in the global economic landscape, influenced not just by domestic factors but by international dynamics as well.

# Opinion

Rupee Resilience

The Indian rupee’s stability, despite external pressures from weak Asian currencies and rising US bond yields, highlights a nuanced approach by the Reserve Bank of India (RBI) in managing the currency.