Rupee slips 6 paise lower at 75.19 against US Dollar

The dollar was up on Thursday morning in Asia, reversing earlier losses as investors turn towards the safe-haven asset after hopes for a COVID-19 vaccine dimmed.

Jul 16, 2020 01:07 IST India Infoline News Service

Rupee
The Indian rupee trading lower amid some buying in American currency by banks and importers. The currency opened 8 paise down at 75.23 against the US dollar in the early morning trade.

Currently, it is trading 6 paise lower at 75.19 against US Dollar.

The dollar was up as investors turn towards the safe-haven asset after hopes for a Covid-19 vaccine dimmed.

On Wednesday, the rupee appreciated 27 paise to settle at 75.15 against the US dollar.

Meanwhile, India’s exports declined by 12.41% to $21.91 billion in June mainly due to a drop in shipments of petroleum, textiles, engineering goods, and gems and jewellery items. Imports too plunged 47.59% to $21.11 billion in June, leaving a trade surplus of $0.79 billion, compared to a deficit of $15.28 billion in the same month of the last year, according to the data released by the Commerce and Industry Ministry on Wednesday.

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