Rupee Falls for 3rd Day; Slips 4 Paise to 69.87 vs USD

Rupee slides through 4 Paise to 69.38 against Dollar in Early Trade

The Reserve Bank of India will bring Rs 15,000 crore into the financial system through bond purchases on Thursday.


updated:June 13, 2019, 10:45 am IST

Rupee slides through 4 Paise to 69.38 against Dollar in Early Trade
Representative Image (Reuters).

Mumbai: The rupee opened cautiously and fell 4 paise to 69.38 against the US dollar in early trading on Thursday amid the strengthening of the greenback against other overseas currencies, even when crude oil prices eased.

Forex traders said the weak macro data added pressure to the domestic unit due to the outflow of foreign funds and the cautious opening of domestic equities.

With the Interbank Foreign Exchange, the Rupee opened with 69.33 and then fell to 69.38 against the US dollar, a decrease of 4 paise compared to the previous closing. However, the local unit settled some losses and scored 100.37 against the US currency at 1005.

The Indian rupee on Friday was closed at $ 69.34 against the US dollar.

Foreign institutional investors (FII & # 39; s) pulled Rs 1,050.43 crore on a net basis from Wednesday, preliminary data showed. Brent crude futures, the global oil benchmark, fell by 0.13% to USD 59.89 per barrel.

On a domestic level, the Reserve Bank of India will introduce $ 15,000 in crs into the financial system on Thursday.

"Based on an assessment of the applicable liquidity conditions and also of the sustainable liquidity needs in the future, the RBI decided to purchase (six) government securities under OMO's for a total amount of Rs 150 billion on 13 June 2019 ( Thursday) via multi-security auction using the multiple price method, "the central bank had said in a statement.

Retail inflation rose to 3.05 percent in May, from 2.99 percent in April, data from the government showed.

. (tagsToTranslate) dollar (t) Forex (t) Indian rupee (t) rbi (t) retail inflation (t) rupee (t) US dollar

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