Rupee falls 4 paise to 73.06 against U.S. dollar in early trade

On September 3, the rupee had settled at 73.02 against the U.S. dollar

The Indian rupee declined 4 paise to 73.06 against the U.S. dollar in opening trade on September 6, tracking a firm American currency.

At the interbank foreign exchange, the rupee opened at 73.02 against the dollar, then fell further to 73.06, registering a fall of 4 paise over its previous close.

On September 3, the rupee had settled at 73.02 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading up 0.18% at 92.20.

Forex traders said a rally in domestic equities and sustained foreign fund inflows supported the rupee and contained the depreciation bias.

On the domestic equity market front, after hitting an all-time high of 58,515.85, the BSE Sensex was trading 274.79 points or 0.47% higher at 58,404.74, while the broader NSE Nifty surged 74.70 points or 0.43% to 17,398.30. The index touched an intra-day high of 17,429.55 in initial deals.

Meanwhile, foreign institutional investors were net buyers in the capital market on September 3, as they purchased shares worth ₹768.58 crore, as per exchange data.

Global oil benchmark Brent crude futures fell 1.06% to $71.84 per barrel.

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