The Indian rupee fell 16 paise to 72.99 against the US dollar in Friday’s trade, a fall in the US dollar and a muted opening in domestic equities influenced investor sentiment.
In the interbank foreign exchange market, the domestic unit opened at 72.98 against the US dollar, then fell to 72.99 against the US currency, a decline of 16 paise over the previous close.
The rupee had closed at 72.83 against the US currency on Thursday.
“The Indian rupee started this Friday with a weaker dollar against the US dollar and an increase in Treasury yields,” Reliance Securities said in a research note.
Meanwhile, the Dollar Index, which estimates the strength of the greenback against a basket of six currencies, rose 0.04% to 91.67.
The Reliance Securities note said that US Treasury Yields gained on Friday morning with gains in US Treasury Yields.
On the domestic equity market front, the 30-share BSE benchmark Sensex lost 33.44 points to 50,812.64, and the broader NSE Nifty fell 8.75 points to 15,072.
Foreign institutional investors were net sellers in the capital market on Thursday, as they held shares of .11 223.11 crore, according to exchange data.
Brent crude futures, the global oil benchmark, rose 0.94% to $ 67.37 a barrel.