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Economy | The rupee has lost 11 paise to 75.95 against the dollar

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Mumbai The rupee had lost 11 paise to close at 75.95 against the US dollar on Thursday. The rupee depreciated against the backdrop of aggressive interest rates by the US Federal Reserve, affecting investor sentiment in global markets. The rupee had opened weaker at 75.88 against the US dollar in the interbank foreign exchange market.

Later, the rupee weakened further to Rs 75.99. At the close of trading, the rupee had lost 11 paise to close at 75.95 against the dollar. On Wednesday, the rupee fell by 55 paise, the biggest one-day decline in a month, hitting a one-week low of Rs. Closed at 75.84 per dollar. Meanwhile, the dollar index, which represents the dollar against six major currencies, rose 0.04 percent to 99.64.

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Global benchmark Brent crude futures rose 1.52 percent to $ 102.61 a barrel. Dilip Parmar, a research analyst at HDFC Securities, said, “The rupee is moving beyond the psychological level of Rs 76 per dollar after the Federal Reserve aggressively moved from a tight policy to a more flexible monetary policy …”

The BSE 30-share benchmark Sensex fell by 575.46 points to close at 59,034.95. According to stock market data, foreign institutional investors were net sellers in the capital market and traded at Rs. 2,279.97 crore shares were sold. (Agency)

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