Today Rupee weak Against US dollar in early trade
The Indian rupee on Wednesday weakened for the second session and hitting an over three-week low against the US dollar because of consistent sell-offs by foreign institutional investors in domestic equity and debt markets.
The home currency opened at 68.05 against the US dollar and touched a low of 68.20—a level last seen on 5 December.
At 9.15am, the rupee was trading at 68.19 per US dollar—down 0.19% from its previous close of 68.06. So far this year, it has fallen 3%.
Since 8 November, the foreign institutional investors have sold a combined of nearly $10 billion in domestic equity and debt markets. So far this year, foreign institutional investors have bought $3.28 billion in equities and sold $6.74 billion in debt.
Fall in the Asian currencies also dampened the local currency. Japanese yen was down 0.2%, Philippines peso 0.1%, Taiwan dollar 0.07%, Malaysian ringgit 0.05%, Thai Baht 0.04%, China renminbi 0.04%. However, China Offshore was up 0.07%, South Korean won 0.05%.
The home currency opened at 68.05 against the US dollar and touched a low of 68.20—a level last seen on 5 December.
At 9.15am, the rupee was trading at 68.19 per US dollar—down 0.19% from its previous close of 68.06. So far this year, it has fallen 3%.
Since 8 November, the foreign institutional investors have sold a combined of nearly $10 billion in domestic equity and debt markets. So far this year, foreign institutional investors have bought $3.28 billion in equities and sold $6.74 billion in debt.
Fall in the Asian currencies also dampened the local currency. Japanese yen was down 0.2%, Philippines peso 0.1%, Taiwan dollar 0.07%, Malaysian ringgit 0.05%, Thai Baht 0.04%, China renminbi 0.04%. However, China Offshore was up 0.07%, South Korean won 0.05%.
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