Rupee Falls 16 Paise Against US Dollar in Early Trade, Tracking Weak Domestic Equities

The dollar index, which gauges the greenback’s strength against a basket of six currencies, strengthened by 0.19 per cent to 92.78. On the domestic equity market front, BSE Sensex was trading 279.13 points or 0.69 per cent lower at 40,428.18, and the broader NSE Nifty fell 80.05 points or 0.67 per cent to 11,857.60.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 2,108.48 crore on Wednesday, according to exchange data. Brent crude futures, the global oil benchmark, fell 0.60 per cent to USD 41.48 per barrel.