Indian rupee slips to 2-month low against dollar

The dollar index was trading at 0.09 per cent higher at 95.97.

PTI file
PTI file

A Staff Reporter

Published: Thu 9 Dec 2021, 9:45 AM

The Indian rupee was trading in a narrow range on Thursday morning, tracking subdued domestic equities and strong US dollar.

At the Indian interbank foreign exchange, the rupee opened at 75.45 against the dollar (20.55 against the Emirati dirham), but lost the early gains and touched a low of 75.53 in early deals. The rupee fell to two-month low of Dh75.5 against dollar on Wednesday.

The Reserve Bank of India, central bank of the South Asian country, kept the borrowing costs at a record low for the 9th consecutive time to support economic growth.

The dollar index, which gauges the greenback’s strengthen against a basket of six currencies, was trading at 0.09 per cent higher at 95.97 on Thursday morning.

Besides, unabated foreign fund outflows weighed on investor sentiment, traders said.

On the Indian equity market front, BSE Sensex was trading 191.4 points or 0.33 per cent per cent lower at 58,458.28, while the broader NSE Nifty fell 63.6 points or 0.36 per cent to 17,406.1 points.

(with inputs from PTI)

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