PTI | Mumbai, June 7 |
Dragged lower amid sell-off in domestic equities and a strong dollar overseas
The rupee slipped 7 paise to close at 77.73 (provisional) against the US dollar on Tuesday. The domestic unit was weighed down by a massive sell-off in domestic equities and stronger greenback overseas.
Persistent foreign capital outflows and elevated global crude oil prices also impacted the domestic unit, forex traders said.
At the interbank foreign exchange market, the local currency opened at 77.72 and witnessed an intra-day high of 77.69 and a low of 77.73 against the US dollar.
The local unit finally settled at 77.73, down 7 paise over its previous close of 77.66.
On the domestic equity market front, the BSE Sensex ended 567.98 points or 1.02 per cent lower at 55,107.34, while the broader NSE Nifty declined 153.20 points or 0.92 per cent to 16,416.35.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.22 per cent to 102.67.
Brent crude futures, the global oil benchmark, eased slightly by 0.37 per cent to $119.07 per barrel.
Foreign institutional investors were net sellers in the capital market on Monday as they offloaded shares worth Rs 2,397.65 crore, according to exchange data.