Rupee slips 9 paise to 70.93/USD

The rupee opened lower against the US Dollar on Wednesday amid some buying in the greenback ahead of the US Fed policy outcome later in the day.

Oct 30, 2019 04:10 IST India Infoline News Service

The Indian rupee opened lower against the US Dollar on Wednesday amid some buying witnessed in the greenback ahead of the US Fed policy outcome later in the day. The local unit opened at 70.93/$, down 9 paise.

On Tuesday, the unit appreciated 6 paise following gains in the domestic equity market amid foreign fund inflows. Lower crude oil prices also provided some comfort.

Further, the BSE Sensex scaled the 40,000-mark in opening trade for the first time since July 5 this year. The Nifty50 was trading 59 points higher at 11,845 and the Nifty Bank also crossed the 30,000 level today.

Meanwhile, oil prices traded lower as an overall rise in inventories is expected for the week. Brent crude was down 51 cents, or 0.83%, at $61.08/bbl. West Texas Intermediate (WTI) crude was down 27 cents, or 0.49%, at $55.27/bbl.

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