Forex Rate Today: Rupee Sheds 4 Paise to 66.70 Against US Dollar

The rupee depreciated 4 paise to 66.70 against the US dollar in early trade today on fresh demand for the greenback from importers and banks ahead of US Federal Reserve's two-day policy meet outcome.

Forex Rate Today: Rupee Sheds 4 Paise to 66.70 Against US Dollar
Rupee Symbol (Photo Credits: Pixabay)

Mumbai, May 2: The rupee depreciated 4 paise to 66.70 against the US dollar in early trade today on fresh demand for the greenback from importers and banks ahead of US Federal Reserve's two-day policy meeting outcome. Dealers attributed the rupee's fall to fresh demand for the US dollar and sustained foreign fund outflows. However, a higher opening in the domestic equity markets and weakness in the American currency against some currencies in the global market ahead of the Fed policy announcement capped the rupee fall, they said.

On Friday, the rupee had gained 9 paise to close at 66.66 on dollar-selling by exporters and a stellar rally in local equities. Forex market remained closed on Monday and Tuesday on account of 'Buddha Purnima' and 'Maharashtra Day', respectively. Meanwhile, the benchmark BSE Sensex was trading higher by 196.79 points, or 0.55 percent, at 35,357.15 in opening deals.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)


You Might Also Like

New INR 5,000 Note Being Released by RBI? Here’s a Fact Check About Fake Image of Indian Currency Going Viral on Social Media

BMW Car, US Dollars, Jewellery Stolen From Man’s Flat in Chandigarh, He Files FIR Against Mother-in-Law

South Korea Experiences Decrease in Foreign Currency Deposits for 1st Time in 5 Months in October

INR vs USD: Rupee Falls 4 Paise To Close at All-Time Low of 84.43 Against US Dollar

Share Us