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 Snaps 5-day Winning Run, Skids 11 Paise to 71.02 Per US Dollar

At the interbank foreign exchange market, the local currency opened on a strong note at 70.79 but lost ground during the day to touch a low of 71.08.

PTI

Updated:October 24, 2019, 6:02 PM IST
facebookTwitter Pocket whatsapp
Rupee Snaps 5-day Winning Run, Skids 11 Paise to 71.02 Per US Dollar
Illustration by Mir Suhail/News18.com

Mumbai: The rupee snapped its five-day winning streak to finish 11 paise lower at 71.02 against the US dollar on Thursday, weighed by unabated foreign fund outflows and a weak trend in domestic equity markets.

At the interbank foreign exchange market, the local currency opened on a strong note at 70.79 but lost ground during the day to touch a low of 71.08. It finally settled at 71.02, lower by 11 paise against its previous close.

"Rupee opened higher against the US dollar but was weighed down after domestic equities witnessed selling pressure in the latter half," said Gaurang Somaiyaa, Forex and Bullion Analyst, Motilal Oswal Financial Services Private Ltd.

Market participants were also a little cautious ahead of the release of the European Central Bank (ECB) policy statement, he added.

The dollar index, which gauges the greenback's strength against a basket of six currencies, fell by 0.01 per cent to 97.48.

Continuing their selling trend, foreign institutional investors (FIIs) offloaded shares worth a net Rs 72.87 crore on Thursday, according to provisional exchange data.

"Technically, there is a strong support placed at 70.75 in USD-INR pair. Any level below 70.75 in spot would result in fresh breakdown on the charts," said V K Sharma, Head - PCG & Capital Market Strategy, HDFC Securities.

Brent futures, the global oil benchmark, slipped 0.18 per cent to USD 61.06 per barrel.

The 10-year government bond yield was at 6.49 per cent.

Meanwhile, equity benchmarks Sensex and Nifty ended marginally lower after a volatile session on Thursday. The 30-share Sensex settled 38.44 points, or 0.10 per cent, lower at 39,020.39. The broader NSE Nifty slipped 21.50 points, or 0.19 per cent, to 11,582.60.

The Financial Benchmark India Private Ltd (FBIL) set the reference rate for the rupee/dollar at 70.9373 and for rupee/euro at 78.9225. The reference rate for rupee/British pound was fixed at 91.3275 and for rupee/100 Japanese yen at 65.44.

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

facebookTwitter Pocket whatsapp
Most Active
Company Price Change %Gain
Zee Entertain 358.10 3.75
Reliance 1,546.50 0.58
Indiabulls Hsg 237.35 2.50
Infosys 693.20 -2.81
SBI 329.30 -0.62
Company Price Change %Gain
Zee Entertain 357.90 3.66
Indiabulls Hsg 237.00 2.31
Reliance 1,546.40 0.60
Safari Ind 544.65 -6.31
Yes Bank 64.80 0.86
Top Gainers
Company Price Change %Gain
Tata Steel 400.00 3.87
Zee Entertain 358.10 3.75
Eicher Motors 22,753.20 3.64
JSW Steel 251.25 2.45
Vedanta 142.25 2.30
Company Price Change %Gain
Tata Steel 399.60 3.74
NTPC 117.80 2.35
Vedanta 142.15 2.27
ONGC 133.80 2.14
Power Grid Corp 198.55 1.53
Top Losers
Company Price Change %Gain
Bharti Infratel 232.00 -4.09
Infosys 693.20 -2.81
TCS 2,071.70 -2.19
Asian Paints 1,682.75 -2.19
UPL 533.50 -2.07
Company Price Change %Gain
Infosys 693.15 -2.89
TCS 2,070.55 -2.20
Asian Paints 1,682.40 -2.17
HCL Tech 1,115.75 -1.82
Kotak Mahindra 1,568.50 -1.68

Live TV

Countdown To Elections Results
To Assembly Elections 2018 Results