Rupee at 71: Currency depreciates 54 paise, touches 71-level against dollar in early trade

Mumbai: The rupee depreciated by 54 paise and hit the 71 per greenback mark in early commerce Thursday amid strengthening American foreign money and weak opening within the home fairness market.

Foreign exchange merchants mentioned the energy of the US greenback towards different abroad currencies and international fund outflows weighed on the native unit.

Representational picture. Reuters

On the Interbank International Change, the rupee opened weak at Rs 70.82, then fell additional to 71 towards the American foreign money, down 54 paise over its earlier closing worth.

On a internet foundation, international portfolio traders (FPIs) bought shares price Rs 357.82 crore Wednesday, and home institutional traders (DIIs) had been internet sellers to the tune of Rs 791.59 crore, provisional information out there with BSE confirmed.

In the meantime, the 30-share Sensex was buying and selling 347.53 factors, or 0.97 %, decrease at 35,536.88 at 1000 hrs.

Oil costs prolonged losses forward of the assembly of Opec and non-Opec manufacturing firms. Brent crude, the worldwide benchmark, was buying and selling 0.83 % decrease at $61.05 per barrel.

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