Rupee slips 13 paise to 69..05 vs US dollar in early trade

Forex traders said, strengthening of the US dollar vis-a-vis against other currencies overseas kept pressure on the Indian rupee.

Published: 23rd July 2019 10:30 AM  |   Last Updated: 23rd July 2019 10:30 AM   |  A+A-

Indian currency, rupees, INR, money

For representational purposes ( File Photo | Reuters)


MUMBAI: The rupee opened on a weak note and declined by 13 paise to 69.05 against the US dollar in opening trade on Tuesday, amid sustained foreign fund outflows and rising crude oil prices.

Forex traders said, strengthening of the US dollar vis-a-vis against other currencies overseas kept pressure on the Indian rupee. The rupee opened weak at 68.98 at the interbank forex market and then fell further to 69.05, down 13 paise over its last close. The rupee had settled at 68.92 against the US dollar on Monday.

Traders said, market participants are not very hopeful about large-scale easing by the Reserve Bank, following RBI Governor Shaktikanta Das's statement, wherein he said a change in monetary policy stance effectively equates to an additional 25-bps rate cut.

However, a positive opening in domestic equities supported the local unit and restricted the fall. Going ahead, global cues like ECB meeting on Thursday, the US Q2 preliminary GDP print on Friday and the FOMC meeting on July 31, are expected to impact rupee movement, traders said.

Brent crude futures, the global oil benchmark, rose 0.13 per cent to USD 63.34 per barrel. Foreign institutional investors (FIIs) remained net sellers in the capital markets, pulling out Rs 1,916.91 crore on Monday, as per provisional data. Domestic bourses opened on a positive note day with benchmark indices Sensex trading 50.03 points up at 38,081.16 and Nifty up 13.55 points at 11,359.75.

Stay up to date on all the latest Business news with The New Indian Express App. Download now


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp