1. Rupee trades lower by 4 paise against dollar in early trade

Rupee trades lower by 4 paise against dollar in early trade

Indian rupee opened nearly 1 paise down at 66.69 against the US dollar on Thursday.

By: | New Delhi | Updated: October 20, 2016 9:44 AM
Indian rupee, US dollar Indian rupee opened nearly 1 paise down at 66.69 against the US dollar on Thursday. (Reuters)

Indian rupee opened nearly 1 paise down at 66.69 against the US dollar on Thursday. At 9.32 am, the currency was trading nearly 4 paise down at 66.72 on account of buying of American currency by banks and importers. Meanwhile, domestic equity markets opened on a firm note tracking robust global cues. Sensex was trading over 200 points, while Nifty surpassed the psychological level of 8,700 in the early trade.

According to experts, demand for the US currency and its gains against the euro and other currencies overseas ahead of a closely-watched European Central Bank meeting pulled the rupee down, but a relatively strong opening of the domestic equity market capped the downside.

Rupee on Wednesday extended its gains for the second session by adding 5 paise to close at 66.68 against the US dollar on sustained selling of the American currency by banks and exporters.

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