Take the pledge to vote

For a better tommorow#AajSawaroApnaKal
  • I agree to receive emails from News18

  • I promise to vote in this year's elections no matter what the odds are.
  • Please check above checkbox.

    SUBMIT

Thank you for
taking the pledge

Vote responsibly as each vote counts
and makes a diffrence

Disclaimer:

Issued in public interest by HDFC Life. HDFC Life Insurance Company Limited (Formerly HDFC Standard Life Insurance Company Limited) (“HDFC Life”). CIN: L65110MH2000PLC128245, IRDAI Reg. No. 101 . The name/letters "HDFC" in the name/logo of the company belongs to Housing Development Finance Corporation Limited ("HDFC Limited") and is used by HDFC Life under an agreement entered into with HDFC Limited. ARN EU/04/19/13618
LIVE TV DownloadNews18 App
News18 English
News18 » Business
1-min read

Rupee Settles 14 Paise Down at 71.02 Against Dollar

At the interbank foreign exchange market, the local currency opened on a weak note at 71.00 and fell further to a low of 71.09. It finally settled at 71.02, lower by 14 paise against its previous close.

PTI

Updated:October 7, 2019, 6:21 PM IST
facebookTwitterskypewhatsapp
Rupee Settles 14 Paise Down at 71.02 Against Dollar
Image for representation.

Mumbai: The rupee depreciated by 14 paise to close at 71.02 against the US dollar on Monday as profit booking in domestic equities and unabated foreign fund outflows kept investors edgy.

Forex traders said market sentiment remained fragile ahead of the US-China trade meeting. Besides, rising crude oil prices also weighed on the domestic unit.

At the interbank foreign exchange market, the local currency opened on a weak note at 71.00 and fell further to a low of 71.09. It finally settled at 71.02, lower by 14 paise against its previous close.

On Friday, the local unit had settled at Rs 70.88 against the greenback.

"Indian rupee weakened along with other emerging Asian currencies against the US dollar as fresh doubts over US-China trade talks resurfaced after a report said that Beijing may be reluctant on agreeing to a broad deal," said VK Sharma, Head - PCG & Capital Market Strategy, HDFC securities.

Sharma further said "spot USDINR has been trading in the tight range with thin volume ahead of the holiday of "Dusshera".

The forex market will remain closed on Tuesday on account of Dussehra.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose by 0.07 percent to 98.87.

On the domestic market front, the 30-share BSE Sensex settled at 37,531.98 points, down by 141.33 points or 0.38 percent as 24 of its components posted losses.

Broader NSE Nifty dropped by 48.35 points or 0.43 percent to close at 11,126.40 as leading IT, pharma, financials, and oil stocks retreated due to profit booking.

Foreign institutional investors (FIIs) remained net sellers in equities, offloaded shares worth Rs 494.21 crore on a net basis, according to provisional exchange data. On Friday, FPIs had sold equities worth Rs 682.93 crore on net basis.

Brent futures, the global oil benchmark, soared 1.01 percent to USD 58.96 per barrel.

The 10-year government bond yield was at 6.68 percent.

The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 70.8703 and for rupee/euro at 77.7844. The reference rate for rupee/British pound was fixed at 87.5229 and for rupee/100 Japanese yen at 66.36.

Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.

Read full article
Next Story
Next Story

Also Watch

facebookTwitterskypewhatsapp
Most Active
Company Price Change %Gain
Yes Bank 51.40 8.44
Reliance 1,416.35 1.42
Indiabulls Hsg 231.20 16.80
Zee Entertain 250.20 -5.39
Maruti Suzuki 7,302.30 2.50
Company Price Change %Gain
HDFC AMC 2,882.20 6.11
Yes Bank 51.40 8.44
Indiabulls Hsg 231.50 17.42
Reliance 1,415.30 1.37
IRCTC 779.20 7.57
Top Gainers
Company Price Change %Gain
Yes Bank 51.40 8.44
Coal India 205.95 3.28
Adani Ports 421.70 3.07
Grasim 746.50 3.03
Maruti Suzuki 7,302.30 2.50
Company Price Change %Gain
Yes Bank 51.40 8.44
Coal India 205.95 3.31
Maruti Suzuki 7,318.15 2.74
Power Grid Corp 202.55 2.45
NTPC 121.00 2.02
Top Losers
Company Price Change %Gain
Zee Entertain 250.20 -5.39
Tata Motors 136.85 -1.90
Eicher Motors 20,275.90 -1.05
Bajaj Auto 3,087.05 -0.79
Hindalco 187.40 -0.74
Company Price Change %Gain
Tata Motors 136.70 -1.05
Bajaj Auto 3,087.75 -0.73
Bharti Airtel 383.25 -0.65
ICICI Bank 437.75 -0.64
Axis Bank 709.20 -0.19

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results