Rupee falls by 9 paise to 72.89 against U.S. dollar

On June 7, the rupee had settled at 72.80 against the U.S. dollar

The rupee depreciated by 9 paise to end at 72.89 against the U.S. dollar on June 8, tracking a strong dollar overseas and subdued sentiment in the domestic equities.

However, a fall in crude oil prices restricted the rupee’s fall, Forex traders said.

At the interbank forex market, the local unit opened slightly up at 72.78 against the greenback and witnessed an intra-day high of 72.76 and a low of 72.90.

It finally ended at 72.89 against the American currency, a decline of 9 paise over its previous close. On June 7, the rupee had settled at 72.80 against the U.S. dollar.

On the domestic equity market front, the BSE Sensex ended 52.94 points or 0.10% lower at 52,275.57, while the broader NSE Nifty slipped 11.55 points or 0.07% to 15,740.10.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, surged 0.20% to 90.12.

Brent crude futures, the global oil benchmark, fell 0.66% to $71.02 per barrel.

Foreign institutional investors were net sellers in the capital market on June 7 as they sold shares worth ₹186.46 crore, as per exchange data.

India reported less than one lakh new coronavirus infections after a gap of 63 days, while the daily positivity rate dropped to 4.62%, according to the Union Health Ministry data updated on June 8.

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