Indian rupee slips to 20.23 versus UAE dirham

Dubai - Asian currencies have started flat to marginally weaker against the greenback and could also weigh on the Indian currency.



By Staff Report

Published: Wed 30 Jun 2021, 9:51 AM

The Indian rupee slipped five paise to 74.28 against the US dollar (20.23 against the UAE dirham) in opening trade on Wednesday as firm American currency and rising crude oil prices weighed on investor sentiment.

Dubai gold prices drop: 24K falls to Dh213 per gram

“The obvious risk for the rupee is increasing Covid-19 delta variant cases, which continues to lend support to the greenback and could weigh on sentiments back home," Reliance Securities said in a research note.

Moreover, Asian currencies have started flat to marginally weaker against the greenback on Wednesday morning and could also weigh on the Indian currency, the note added.

Global oil benchmark Brent crude futures rose 0.41 per cent to $75.07 per barrel.

The dollar index was unchanged at 92.05.

On the equity front, the Bombay Stock Exchange (BSE) Sensex was trading 197.42 points or 0.38 per cent higher at 52,747.08, while the broader NSE Nifty advanced 54.50 points or 0.35 per cent to 15,802.95.

(With inputs from PTI)

Photo: AFP
Photo: AFP

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