Published on 12/08/2020 12:05:44 PM | Source: Dion Global Solutions

Rupee slips 6 paise to 74.84 against US dollar in early trade

Posted in Currency Top News| #Rupee #US dollar #Currency News

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The rupee depreciated 6 paise to 74.84 against the US dollar in opening trade on Wednesday tracking negative domestic equities and strengthening American currency. The local unit opened at 74.78 at the interbank forex market, then lost ground and touched 74.84 against the US dollar, down 6 paise over its last close of 74.78.

Meanwhile, the dollar index, which gauges the greenback"s strength against a basket of six currencies, rose 0.28 per cent to 93.89. Forex traders said strong dollar, muted domestic equities and weak Index of Industrial Production (IIP) data weighed on investor sentiment.