Rupee slips by 16 paise against the US dollar to 68.24
The Indian rupee skidded 16 paise to 68.24 against the US dollar in early trade on Thursday. The slip of Indian rupee is mainly because of fresh buying of the American currency by importers amid sustained foreign fund outflows. The benchmark BSE Sensex climbed 123.06 points, or 0.35 per cent, to 35,670.39 in opening trade. Forex dealers alleged, the dollar hovering near an 11-month high against a bunch of currencies overseas, supported by a rise in US yields, also weighed on the rupee but a higher opening of the domestic equity markets restrains the decline. On Wednesday, Foreign portfolio investors (FPIs) sold shares worth Rs 2,442.61 crore, as per provisional data issued by the stock exchanges. Yesterday, the Rupee had a great comeback as it ended with a gain of 30 paisa at 68.08 against the US currency. -PTC News
