Mumbai: The Indian rupee declined against the US dollar in early trade on Tuesday. As per market experts, a stronger US currency in global markets, decline in the domestic equity market and weak domestic manufacturing data weighed upon the Indian currency.
At the interbank foreign exchange market, the Indian rupee opened at 83.94, lower by 3 paise from its previous close before dropping further to 83.95. The Indian rupee had settled at 83.91 against the US dollar on Monday.
Also Read: UAE based air carrier announces0% discount on flights to popular destinations: Details
The dollar index, which gauges the US dollar’s strength against a basket of six currencies, rose 0.08 per cent to 101.73 points.Foreign Institutional Investors (FIIs) were net buyers in the Indian capital markets on Monday, as they purchased shares worth Rs 1,735.46 crore. The HSBC India Manufacturing PMI declining slightly to 57.5 in August and India’s economic growth falling to a 15-month low of 6.7 per cent for the June quarter.
Post Your Comments