Rupee slips below 75/USD level in early trade ahead of release of key macroeconomic data
The Hindu
Rising crude oil prices, foreign fund outflows, spiking COVID-19 cases and heavy selling in domestic equities too weighed on the domestic currency.
The rupee opened on a weak note and fell below the 75 per U.S. dollar level in early trade on Monday amid lacklustre opening in domestic equities ahead of the release of key macro-economic data. Moreover, rising crude oil prices, foreign fund outflows, spiking COVID-19 cases and heavy selling in domestic equities weighed on the domestic currency. At the interbank foreign exchange, the rupee opened at 74.97 then lost further ground and fell to 75.14 against the U.S. dollar, showing a decline of 41 paise over its previous closing.More Related News