Rupee Dwindles By 36 Paise At 73.93 Against Dollar

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New Delhi: The rupee fell by 36 paise to stand at 73.93 against the U.S. Dollar in early trade on Monday. This broke the three-day recovery trend of the domestic currency, as crude prices rose amid weak macro economic data. A surge in dollar demand from importers besides sustained foreign fund outflows also bogged down the rupee.

Market analysts have opined that the dollar’s strength against some other currencies overseas and a volatile opening of the equity markets have also adversely impacted the rupee.

On Friday, the rupee had closed at 55 paise higher at 73.57 against the dollar- which was its biggest surge in three weeks. The benchmark BSE Sensex also fell by 70.85 points, or 0.20%, to 34,662.73 in early trade on Monday after crossing the key 35,000-mark to hit a high of 35,008.65 at the outset

Meanwhile, Industrial production slipped to a three-month low of 4.3% in August and retail inflation rose marginally to 3.77% in September, according to the data released by Central Statistics Office Friday.

Also Read: Rupee Stronger By 23 Paise Against US Dollar

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