Indian rupee ends 20 paise lower at 75.01 against US dollar1 min read . Updated: 03 Aug 2020, 03:38 PM IST
- The Indian unit closed at 75.01 against the American currency--a level last seen on 17 July--down from its previous close of 74.82
MUMBAI : sThe Indian rupee slumped 20 paise on Monday to close at a two-week low against the US dollar, tracking weakness in domestic equities.
The Indian unit closed at 75.01 against the American currency--a level last seen on 17 July--down from its previous close of 74.82. The local currency had opened at 74.90 and swung between a high of 74.88 and a low of 75.03. Year to date, the Indian currency has shed 4.84%.
The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.15% to 93.49.
The benchmark Sensex settled 667.29 points 1.77% lower at 36,939.60, while Nifty 50 closed at 10,899.85, down 173.60 points or 1.57%.
Foreign institutional investors have net sold $1.17 billion and $14.61 billion in equity and debt markets respectively since the beginning of 2020, while domestic institutional investors invested ₹78901.24 crore in stocks, according to data on the exchanges.
Brent crude futures were down 0.69% at $43.22 per barrel, providing a cushion to the rupee. India is one of the largest importers of crude oil and a fall in global prices helps keep the import bill in check.
Among Asian currencies, Indonesian Rupiah fell 0.21%, Korean Won lost 0.20% and Taiwan Dollar was down 0.19%. However, Japenese Yen was up 0.22%, Malaysian Ringgit rose 0.36% and Thai Baht gained 0.15%.