Rupee slumps 31 paise to 75.46 against U.S. dollar in early trade
The Hindu
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.45% to 95.98
The rupee declined 31 paise to 75.46 against the U.S. dollar in opening trade on February 11, tracking overall Dollar strength after a larger-than-expected U.S. inflation unleashed a wave of bets on aggressive rate hikes.
Forex traders said muted domestic equities, sustained foreign fund outflows and elevated crude oil prices weighed on the local unit.
At the interbank foreign exchange, the rupee opened at 75.40 against the U.S. dollar, then slipped further to 75.46, registering a decline of 31 paise from the last close.
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