The Indian rupee slipped against the US dollar on Friday as the US dollar extended gains, a day after the US Federal Reserve surprised markets with its hawkish statement.
Besides, weak domestic equities also weighed on investor sentiments.
At the interbank foreign exchange, the rupee opened lower at 74.10 against the dollar and lost further ground to touch 74.23, registering a fall of 15 paise over its previous close.
The local unit on Thursday had settled at 74.08 against the US dollar.
Meanwhile, US equities ended mixed yesterday with technology stocks making a comeback and pushing Nasdaq to near a record close.
A sharp contraction in USA treasury yield to 1.52% yesterday offered comfort to technology stocks (which are considered rate sensitive). Softening yields have also eased the fear of sell-off in the bond market post FOMC meeting outcome, which could have sent bond yield sharply higher.
As per provisional data available on the NSE, foreign institutional investors(FIIs) net sold shares worth Rs879.73cr, while domestic institutional investors (DIIs) net bought shares worth Rs45.24cr in the Indian equity market on June 17.
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