Rupee slips further; trades at 72.14/$

The local unit opened lower by 25 paise against the US dollar amid a rise in oil prices and a strengthening greenback.

Dec 12, 2018 04:12 IST India Infoline News Service

Rupee open
The Indian rupee extended its losses for the second consecutive session on Wednesday. The local unit opened lower by 25 paise against the US dollar amid a rise in oil prices and a strengthening greenback.

Currently, the currency is trading 27 paise lower at 72.14/$.

On Tuesday, the currency staged a late rebound after plunging 110 paise in early trade and ended 53 paise lower at 71.85/$ following RBI Governor Urjit Patel's shock exit coupled with the massive three-state poll loss of the ruling BJP yesterday.

On the economy front, Shaktikanta Das, a former economic affairs secretary, was appointed as the new governor of the central bank on Tuesday.

Meanwhile, as per media reports, Trump said that talks were taking place with Beijing and that the US would not raise tariffs on Chinese imports until he was sure about a deal.

Meanwhile, the 10-year government bond yield stood at 7.475% from its previous close of 7.528%.

RBI's reference rate for the dollar stood at Rs71.92, while for the euro, it was at Rs81. 73. Further, its reference rate for the yen stood at Rs63.57, while that for the British pound sterling, it was at Rs90.42.

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