Rupee falls 15 paise against US dollar in early trade

An worker counts U.S. dollar bills astatine a overseas speech antagonistic wrong a slope successful New Delhi. File photo | Photo Credit: REUTERS

The rupee fell sharply by 15 paise against the US dollar to 83.44 successful aboriginal commercialized connected Wednesday (November 27, 2024) amid muted trends successful the home equity markets.

However, a diminution successful the dollar scale and a marginal autumn successful the Brent crude scale prevented further losses successful the home unit, according to experts.

At the interbank overseas exchange, the section portion opened astatine 84.38 -- down 9 paise from its erstwhile adjacent -- and past slid further to 84.44, registering a diminution of 15 paise from its erstwhile close.

On Tuesday, the rupee pared its intra-day losses to settee level astatine 84.29 against the US dollar.

"The Indian banking liquidity fell into shortage arsenic manufacture players paid Rs 1.6-1.8 lakh crore arsenic GST payment. This was aft 2 months that liquidity has fallen into a shortage arsenic the RBI besides intervened into forex markets to support the rupee weighing connected liquidity conditions," Anil Kumar Bhansali, Head of Treasury and Executive Director, Finrex Treasury Advisors LLP, said.

"The rupee whitethorn beryllium successful the wide scope of 84.00 to 84.50 successful the adjacent word arsenic markets await a slew of information from the US this evening," Bhansali added.

Meanwhile, the dollar index, which gauges the greenback's spot against a handbasket of six currencies, was down 0.15 per cent to 106.84.

Brent crude, the planetary lipid benchmark, was marginally down 0.10 per cent to USD 72.74 per tube successful futures trade.

Published - November 27, 2024 10:20 americium IST