Mumbai: The Indian rupee fell 16-paise to 73.07 against the US dollar in opening trading on Friday after the Reserve Bank kept interest rates unchanged for the sixth time in a row.
Reserve Bank of India (RBI) decided on Friday to leave the standard interest rate unchanged at 4 percent, but maintained an accommodating stance amid the second COVID wave.
On the interbank foreign exchange, the rupee opened lower at 73.00 against the dollar and further lost ground to hit 73.07, which recorded a decrease of 16 pais compared to the previous close.
On Thursday, the rupee settled against the US dollar at 72.91.
Shaktikanta Das, governor of the RBI, said the Monetary Policy Committee (MPC) had unanimously voted to keep interest rates unchanged and decided to continue with its accommodative stance for as long as necessary to support growth and keep inflation within target.
Meanwhile, the dollar index, which measures the strength of the dollar, rose by 0.05 percent to 90.56 against a basket of six currencies.
Global oil benchmark Brent crude futures fell 0.15 percent to $ 71.20 per barrel.
In terms of the local stock market, BSE Sensex traded 99.32 points or 0.19 percent higher at 52,331,75, while the broader NSE Nifty rose 26.65 points or 0.17 percent to 15,717.00.
Foreign institutional investors were net buyers in the capital market on Thursday because they bought shares worth 1 079.20 million RC.
Source: Telangana Today