Rupee weakens to 64.22 as Sensex slips below 35K

PTI Updated on February 05, 2018

Mumbai, Feb 5

The rupee depreciated by 16 paise to 64.22 against the US dollar in early trade at the interbank forex market today owing to sharp losses in equity markets.

A currency trader said increased demand for the US currency from importers and banks and persistent losses in domestic equity markets weighed on the rupee.

On Friday, the rupee had closed lower by 4 paise to 64.06 a dollar as forex traders appeared cautious in view of upward revision of fiscal deficit target and the net borrowing for the current fiscal in the Union Budget.

Foreign investors had put in USD 387 million in equity and debt markets last Friday. Meanwhile, the benchmark BSE Sensex cracked below the 35,000-mark by plunging 545.95 points, or 1.55 per cent, to 34,520.80, while the broader NSE Nifty tumbled 173.80 points,or 1.61 per cent to 10,586.80 in the opening trade.

Published on February 05, 2018
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