Rupee depreciates slightly in morning deals
By PTI |
Highlights
MUMBAI: The rupee depreciated slightly against the dollar in lacklustre activity during morning trading due to some dollar buying.
In a quiet trade at the Interbank Foreign Exchange (Forex) market, the domestic unit opened lower at Rs 44.28/29 a dollar against Friday's close of Rs 44.25/26 a dollar but later recovered modestly to quote at Rs 44.27/2775 per dollar in late morning deals.
Slowdown in Foreign Institutional Investors (FIIs) inflows in the equity markets partly weighed down the rupee sentiment, forex dealers said. There was no genuine demand for the greenback and the dollar buying was largely through interbank activity, they added.
There was some dollar buying by state-run-banks on behalf of their oil PSUs clients due to rising global crude oil prices which were quoted just below USD 53 a barrel. The dollar was little changed against the major world currencies on Friday.
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