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Last Updated : Sep 22, 2020 10:23 AM IST | Source: Moneycontrol.com

Rupee opens 12 paise lower at 73.50 per dollar

The US dollar rose and riskier currencies fell as investors sought safety and global stock markets tumbled on fears about rising COVID-19 cases.

The Indian rupee opened 12 paise lower at 73.50 per dollar on September 22 as the US currency gained strength against its global peers.

The Indian currency had closed at 73.38 against the US dollar on September 21.

The US dollar rose and riskier currencies fell as investors sought safety and global stock markets tumbled on fears about rising COVID-19 cases.

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Besides, weakness in the Indian equity market also weighed on the domestic currency.

Sensex fell over 400 points and Nifty fell below 11,100 in early trade as the sentiment remained fragile owing to a spike in COVID-19 cases in many countries of the world.

Most Asian shares opened weaker on Tuesday on concerns about new pandemic lockdowns in Europe and after reports about financial institutions allegedly moving illicit funds hurt global banking stocks.

Foreign institutional investors (FIIs) net sold shares worth Rs 539.81 crore, while domestic institutional investors (DIIs) net sold shares worth Rs 517.95 crore in the Indian equity market on September 21, as per provisional data available on the NSE.
First Published on Sep 22, 2020 10:23 am

tags #Rupee

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