USD/INR: Rupee Falls for Second Straight Day

SourceYahoo News
SectorFinancial Markets

Vivek KumarJune 9, 2021, 5:57 AM·2 min read

The Indian rupee slipped against the U.S. dollar for the second straight day on Wednesday amid weakness in domestic equity markets, which fell from record highs due to losses in energy and financial stocks.

The USD/INR rose to an intraday high of 73.0150 against the U.S. currency from Tuesday’s close of 72.95.

The dollar index, a measurement of the dollar’s value relative to six foreign currencies, fell 0.09% to 89.99.

The Indian equity markets erased their early morning gains and settled lower on Wednesday, largely due to losses in Financial and Auto sector stocks. The benchmark BSE Sensex index fell 333.93 points or 0.64% to 51,941.64, while the Nifty-50 dipped 104.70 points 0.67% to 15,635.40.

On the other hand, the global oil benchmark Brent futures rose 0.51% to $72.59 per barrel. Foreign institutional investors were net buyers in the capital market on Tuesday as they purchased shares worth Rs 1,422.71 crore, as per exchange data.

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