Rupee falls 6 paise to 74.26 from US greenback in early trade

The Indian rupee slumped 6 paise to 74.26 against the US dollar in opening trade on Monday as agency crude oil price ranges weighed on investor sentiment.

At the interbank foreign exchange, the rupee opened lower at 74.24 from the dollar, then fell additional to 74.26, registering a drop of 6 paise above its former near.

On Friday, the rupee had settled at 74.20 from the US dollar.

“The apparent chance for the rupee this week is persistently increased crude oil costs. That, coupled with the current market expectations for a a bit more robust greenback in the shorter run, will continue to weigh on the area unit,” Reliance Securities reported in a study be aware.

World oil benchmark Brent crude futures down .22 for every cent to USD 76.01 per barrel.

Asian currencies have commenced flat to marginally weaker towards the dollar this morning and could cap appreciation bias, the note added.

Meanwhile, the greenback index, which gauges the greenback’s energy versus a basket of 6 currencies, was investing .02 for each cent up at 91.86.

On the domestic fairness industry entrance, BSE Sensex was investing 39.17 details or .07 for every cent decrease at 52,885.87, though the broader NSE Nifty declined 6.85 factors or .04 for every cent to 15,853.50.

Overseas institutional investors have been web sellers in the cash marketplace on Friday as they offloaded shares well worth ₹678.84 crore, as per trade information.