Rupee falls 4 paise in early trade
The Hindu
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The rupee depreciated 4 paise to 86.61 against the US dollar in early trade on Wednesday (January 29, 2025), due to sustained foreign fund outflows, unabated dollar demand from oil importers and weak risk appetite.
Forex traders said the rupee continued to face pressure as investors are awaiting cues from the US FED meeting outcome. Besides, global risk sentiments were dampened amid tariff threats by the US President Donald Trump, they said.
At the interbank foreign exchange, the rupee opened at 86.58 then fell further to 86.61 against the American currency, registering a decline of 4 paise over its previous close.
On Tuesday, the rupee depreciated 26 paise to close at 86.57 against the US dollar.
Forex traders said broad dollar demand, foreign fund outflows pressurised the rupee. However, a decline in crude oil prices cushioned the downside.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was at 107.83, lower by 0.03 per cent.
Brent crude, the global oil benchmark, was quoted 0.15 per cent lower at USD 77.37 per barrel in futures trade.
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