Rupee extends fall; depreciates 13 paise

Rupee extends fall; depreciates 13 paise

On Wednesday, the currency slipped 75 paise to 70.18 against the dollar, its first loss in the past four trading sessions.

The Indian rupee has extended its fall for the second straight trading session on Thursday and depreciated 13 paise to open at 70.30 against the dollar.

On Wednesday, the currency slipped 75 paise to 70.18 against the dollar, its first loss in the past four trading sessions.

The fall is on the back of a strong greenback against its major peers and marginal recovery in global equity markets. Additionally, the gain in global crude oil prices is also putting pressure on the domestic currency.

Brent crude prices rose ~2% on Wednesday amid expectation of tight supply from Saudi Arabia. As per media reports, Saudi’s oil exports in December dropped half a million barrels per day to 7.253mn barrels per day.

Meanwhile, investors will be focusing on Reserve Bank of India's Governor Shaktikanta Das'  meeting with representatives of MSMEs and non-banking financial companies (NBFCs) next week. Read more.

Further, equity benchmark indices opened lower on Thursday amid mixed trends in Asian markets. Realty, FMCG, IT, and PSU Banks were trading higher, while Metal, Media, and Bank Nifty were in the negative zone.

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