The rupee opened nearly 12 paise down at 68.20 against
dollar on Thursday. Buying of American currency by banks and importers triggered the fall in the domestic unit.
The local currency staged a smart comeback in the previous trading session, gaining 30 paise to end at 68.08 against the greenback.
According to IIFL, widening current account deficit has prompted higher forward projections for USD/INR, with levels above 70 seen during this year. With Fed clearly the most hawkish bloke in town, and peers like ECB and BOJ kicking the can of rate moves down the road, the repercussions of a resurgent US dollar index are amply clear for Indian rupee.
Foreign portfolio investors offloaded shares worth of Rs 1,410.80 crore on Wedneday, as per data available with depository NSDL.
Meanwhile, domestic equity markets opened in the green following mixed global cues. The BSE Sensex opened 96.72 points, or 0.27 per cent, up at 35,644.05, whereas NSE Nifty index opened 36.40 points, or 0.34 per cent, up at 10,808.45.
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Source: //economictimes.indiatimes.com/articleshow/64676175.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
