Rupee slips 12 paise to 77.62 against U.S. dollar in early trade
The Hindu
On Wednesday, the rupee recovered from its record low to close 21 paise higher at 77.50 against the American currency
The rupee slipped 12 paise to 77.62 against the U.S. dollar in early trade on Thursday, tracking the strength of the American currency in the overseas market.
At the interbank foreign exchange, the rupee opened at 77.61 against the American dollar, then lost ground to quote at 77.62, registering a fall of 12 paise from the last close.
On Wednesday, the rupee recovered from its record low to close 21 paise higher at 77.50 against the American currency.
The Indian rupee opened weaker against the dollar on Thursday, weighed down by a recovery in the U.S. dollar and strengthening bond yields, said Sriram Iyer, Senior Research Analyst at Reliance Securities.
However, a sell-off in the crude oil prices on Thursday morning could cap the depreciation bias, Mr. Iyer noted.
Global oil benchmark Brent crude futures fell 1.57% to $114.46 per barrel.
Moreover, Asian and emerging market peers were weaker on Thursday morning and could weigh on sentiments, Mr. Iyer said.
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