INSUBCONTINENT EXCLUSIVE:
The rupee on Wednesday had declined 24 paise to close at 69.86.
The rupee on Thursday slumped 39
paise to close at more than six-week low of 70.25 against the US dollar, reported news agency Press Trust of India (PTI)
Rising crude oil prices and a late sell-off in domestic equity markets led to the fall in the domestic currency, analysts were quoted as
Besides, a strengthening dollar against some major currencies overseas also weighed on the home unit, they said
The rupee on Wednesday had declined 24 paise to close at 69.86
Here are 10 things to know:At the forex market, the rupee opened sharply lower at 70.06 and fell further to the day's low
of 70.27 as crude oil prices breached the $75 per barrel mark for the first time in 2019.The domestic currency settled lower by 39 paise or
0.56 per cent at 70.25 per dollar, the lowest closing level since March 6, according to PTI.According to VK Sharma, head, PCG Capital
Markets Strategy, HDFC Securities, rising crude and dollar index weighed on the rupee.The dollar index, which gauges the greenback's
strength against a basket of six currencies, was up by 0.08 per cent to 98.25."Stronger crude oil prices, weakness in Asian currencies also
weighed on rupee," said Mr Sharma.Global benchmark Brent breached the $75 per barrel level for the first time in 2019 following stricter US
at 11,641.80.Foreign institutional investors (FIIs) purchased equities worth Rs
974.88 crore on Wednesday, while domestic institutional investors (DIIs) sold shares to the tune of Rs
schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections
Like us on Facebook or follow us on Twitter and Instagram for updates from each of the 543 parliamentary seats for the 2019 Indian general
