Home Economy Rupee slips 5 paise to 73.05 against U.S. dollar in early trade

Rupee slips 5 paise to 73.05 against U.S. dollar in early trade

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The Indian rupee opened on a flat note and slipped 5 paise to 73.05 against the U.S. dollar in opening trade on September 1.

However, strong macroeconomic data and a rally in the domestic equity market restricted the rupee’s fall, forex dealers said.

At the interbank foreign exchange, the rupee opened at 73.05 against the dollar, registering a fall of 5 paise from the last close.

In the previous session, the rupee had settled at 73.00 against the U.S. dollar.

Meanwhile, India’s economic growth surged by a record 20.1% in the April-June quarter of this fiscal, helped by a low base of the year-ago period, despite a devastating second wave of COVID-19.

Foreign institutional investors were net buyers in the capital market on August 31 as they purchased shares worth ₹3,881.16 crore, as per exchange data.

On the domestic equity market front, the 30-share index was trading 234.34 points or 0.41% up at a record high of 57,786.73. Similarly, the broader NSE…

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