Rupee hits a 19-month low |
The rupee plunged by 30 paise to hit a 19-month low of 68.54 against the US dollar in early trade June 27 on strong month-end dollar demand from importers and banks amid sustained foreign capital outflows. This is the rupee`s lowest level against the greenback since November 29, 2016. The dollar`s strength against some currencies overseas weighed on the local unit but a higher opening of the domestic equity markets capped the losses, traders said. Foreign portfolio investors (FPIs) sold shares worth Rs 538.40 crore yesterday, as per provisional data issued by the stock exchanges. The BSE Sensex advanced nearly 54 points in opening trade today, spurred by a fresh spell of buying in select blue-chip stocks like Infosys, TCS and Sun Pharma amid mixed global cues.Sustained buying by domestic institutional investors (DIIs) and short-covering of outstanding positions by speculators ahead of tomorrow`s June series expiry in the derivatives segment also supported the uptrend, brokers said. The 30-share index was trading higher by 53.85 points, or 0.15 per cent, at 35,543.89. IT, teck, healthcare and consumer durables indices were in the green, with gains of up to 0.86 per cent.
|
|
|
|