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Rupee Falls 36 Paise To 73.93 Against Dollar In Early Trade

A spurt in dollar demand from importers amid sustained foreign fund outflows also weighed on the rupee.

Mumbai: The rupee dropped 36 paise to 73.93 against the US currency in early trade Monday, breaking its three-day recovery trend, as crude prices rose amid weak macro economic data.

A spurt in dollar demand from importers amid sustained foreign fund outflows also weighed on the rupee.

Dealers said, factors like the dollar’s strength against some other currencies overseas and a volatile opening of the equity markets also impacted the domestic currency.

Also Read: Rupee Hits New Low of 74.45, Falls 24 Paise Against US Dollar

Industrial production slipped to a three-month low of 4.3 per cent in August and retail inflation rose marginally to 3.77 per cent in September, according to the data released by Central Statistics Office Friday.

Friday, the rupee had ended 55 paise higher at 73.57 against the dollar, as global crude prices eased and domestic indices staged a smart rebound.

Foreign institutional investors (FIIs) sold shares to tune of Rs 1,322 crore Friday, provisional data showed.

Also Read: Govt ‘Suppressing Dissent’ In Response To Issues Like Rafale, Depreciating Rupee: Chidambaram

The benchmark BSE Sensex fell by 70.85 points, or 0.20 per cent, to 34,662.73 in early trade after crossing the key 35,000-mark to hit a high of 35,008.65 at the outset.

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