lastminute newsRupee Slips Below 75 Per USD Level In Early Trade Ahead Of Release Of Key Macroeconomic Data SonDakika-Haberleri.Net
The rupee opened on a weak note and fell below the 75 per US dollar level in early trade on Monday amid lacklustre opening in domestic equities ahead of the release of key macro-economic data.
Moreover, rising crude oil prices, foreign fund outflows, spiking COVID-19 cases and heavy selling in domestic equities weighed on the domestic currency.
At the interbank foreign exchange, the rupee opened at 74.97 then lost further ground and fell to 75.14 against the US dollar, showing a decline of 41 paise over its previous closing.
The Indian rupee on Friday had closed at 74.73 against the US dollar.
The rupee started on a weaker note against the US dollar weighed by the inflationary pressures on the economy ahead of the data tonight, Reliance Securities said.