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Indian rupee slips against UAE dirham in early trade

Forex traders expect the rupee to trade with a slight negative bias on global economic concerns

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by

A Staff Reporter

Published: Thu 19 Jan 2023, 9:54 AM

Last updated: Thu 19 Jan 2023, 11:56 AM

The Indian rupee depreciated 15 paise to 81.45 against the US dollar (22.19 versus the UAE dirham) in early trade on Thursday, weighed down by a muted trend in equities and foreign fund outflows.

At the Indian interbank foreign exchange, the rupee opened weak at 81.45 against the dollar, registering a decline of 15 paise over its last close. In initial trade the rupee also touched an early high of 81.27 against the US dollar.

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In the previous session on Wednesday, the rupee settled at 81.30 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.09 per cent to 102.26.

Brent crude futures, the global oil benchmark, declined 1.18 per cent to $83.98 per barrel.

Forex traders expect the rupee to trade with a slight negative bias on global economic concerns.

In the equity market, the 30-share BSE Sensex was trading 140.49 points or 0.23 per cent lower at 60,905.25. The broader NSE Nifty declined 65.45 points or 0.36 per cent to 18,099.90.

(With inputs from PTI)

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A Staff Reporter

Published: Thu 19 Jan 2023, 9:54 AM

Last updated: Thu 19 Jan 2023, 11:56 AM

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