The Indian rupee slumped 15 paise to 74.23 in opposition to the US greenback in opening commerce on Friday because the US greenback prolonged beneficial properties, a day after the US Federal Reserve stunned markets with its hawkish assertion.
Forex merchants mentioned muted home equities additionally weighed on investor sentiments.
At the interbank overseas alternate, the rupee opened decrease at 74.10 in opposition to the greenback and misplaced additional floor to the touch 74.23, registering a fall of 15 paise over its earlier shut.
On Thursday, the rupee had settled at 74.08 in opposition to the US greenback.
The rupee began on a weaker observe this Friday in opposition to the buck because the US greenback prolonged beneficial properties a day after the Fed’s hawkish assertion, Reliance Securities mentioned in a analysis observe.
Further, Asian currencies have began flat to weaker in opposition to the buck this morning and can weigh on sentiments, the observe mentioned including the Reserve Bank of India could possibly be current to curb volatility within the markets.
Meanwhile, the greenback index, which gauges the buck’s power in opposition to a basket of six currencies, was buying and selling marginally decrease at 91.87 down 0.02 per cent.
Global oil benchmark Brent crude futures fell 0.77 per cent to USD 72.52 per barrel.
On the home fairness market entrance, BSE Sensex was buying and selling 185.96 factors or 0.36 per cent decrease at 52,137.37, whereas the broader NSE Nifty declined 71.25 factors or 0.45 per cent to fifteen,620.15.
Foreign institutional traders had been web sellers within the capital market on Thursday as they offloaded shares value Rs 879.73 crore, as per alternate knowledge.