Markets

Rupee opens 6 paise lower at 67.90 against US dollar

NEW DELHI: The rupee on Monday opened 6 paise lower at 67.90 against the US dollar on account of buying of the American currency by banks and importers.

The local currency on Friday settled at 67.84 against the dollar.

Meanwhile, the domestic equity market kicked off the day on a cautious note following global cues. The BSE Sensex was down 20.86 points, or 0.06 per cent, at 35,640.46, while the NSE Nifty index was trading 9.20 points, or 0.09 per cent, down at 10,812.65.

Foreign investors have pulled out over Rs 14,500 crore from domestic capital markets this month so far, primarily due to the global trade war and hawkish commentary by the US Federal Reserve.

The latest outflow has taken the total net withdrawal by foreign portfolio investors (FPIs) from the capital markets (equity and debt) to more than Rs 46,600 crore in this year so far, according to the latest data available with the depositories.

Brent crude slipped by more than 1.50 per cent early on Monday as traders factored in an expected output increase that was agreed at the headquarters of the Organization of the Petroleum Exporting Countries (Opec) in Vienna on Friday.

Brent crude futures, the international benchmark for oil prices, were at $74.03 per barrel at 9.15 am (IST), down 1.70 per cent from their previous close.

Original Article

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