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Rupee trades lower at 74.28 paise against US Dollar

At the interbank foreign exchange, the rupee opened lower at 74.18 against the American dollar.

January 17, 2022 2:45 IST | India Infoline News Service
The Indian rupee is trading lower by 12 paise against US Dollar in the afternoon trade. At the interbank foreign exchange, the rupee opened lower at 74.18 against the American dollar.

On Friday, the local unit had fallen 25 paise to close at 74.15 against the U.S. dollar.

Besides, foreign institutional investors were net sellers in the capital market on Friday, as they offloaded shares worth Rs1,598.20cr.

The dollar index, which gauges the greenback's strength against a basket of six currencies, was trading unchanged at 95.16.

On the domestic equity market front, BSE Sensex is currently 61,311.98 up 88.95 points or 0.15% and the Nifty50 is currently 18,309.90 up 54.15 points or 0.3%.

Meanwhile, US markets will remain closed today for Martin Luther King Jr. Day. US stocks ended mixed Friday after sentiment on Wall Street appeared to sour on heightened anticipation for higher interest rates and concerns over the economic outlook. New York Fed President John Williams, a key ally of Fed Chairman Jerome Powell, said Friday that he expects economic growth to slow in 2022 to a 3.5% annual rate, from an estimated 5.5% rate last year, on the spread of omicron.

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