Rupee slips 9 paise to 71.03 against USD in early trade

MUMBAI: The Indian rupee opened on a cautious note and fell 9 paise to 71.03 against the US dollar in early trade on Wednesday amid rising demand for the US dollar vis-a-vis other currencies overseas and unabated foreign fund outflows.

Rupee slips 9 paise to 71.03 against USD in early trade

Forex traders said trading in emerging market currencies were subdued after British Prime Minister Boris Johnson lost the crucial Brexit Bill timetable vote.

Mumbai, October 23

The Indian rupee opened on a cautious note and fell 9 paise to 71.03 against the US dollar in early trade on Wednesday amid rising demand for the US dollar vis-a-vis other currencies overseas and unabated foreign fund outflows.

Forex traders said trading in emerging market currencies were subdued after British Prime Minister Boris Johnson lost the crucial Brexit Bill timetable vote.

“I must express my disappointment that the House has voted for delay rather than a timetable that would have guaranteed the UK could leave on October 31 with a deal. We now face further uncertainty,” Johnson told the House of Commons after the final of two important votes on Tuesday.

At the interbank foreign exchange, the rupee opened at 71.01 then fell to 71.03 against the US dollar, showing a decline of 9 paise over its previous closing.

The Indian rupee on Tuesday had closed at 70.94 against the US dollar. PTI

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