INR to USD Forex Rates Today

INR to USD Forex Rates Today: Rupee Loses 7 Paise against Dollar in Early Trade 

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Extending losses for the third day, the Rupee dropped by another 7 paise to 66.99 against the US dollar  in early trade today at Interbank Foreign Exchange market as the American currency strengthened overseas. Forex dealers said fresh demand for the US currency from importers and a lower opening in the domestic equity market put pressure on the rupee.

The rupee had depreciating by 24 paise to end at 66.92 against the US dollar on Monday. The forex market remained closed yesterday on account of “Id-ul-Zuha”. Meanwhile, the benchmark BSE Sensex fell further by 30.22 points or 0.10 per cent to 28,323.32 in opening trade today.

Expect Nifty to Open Gap Down at 8953

Dynamic Levels' Market Outlook:  

Nifty to open a tad lower, ECB's Mario Draghi disappoints markets  

Indian Market Outlook: 

India's benchmark Nifty is expected to open gap down despite strong closing yesterday at 8975. ECB  President Mario Draghi has failed to match the expectations of the market, however the overall trend of the market is a buy, but marginal correction on the downside can set in. Nifty's support lies is at 8850 thus markets can retest to those levels. Yes Bank had to defer its QIP yesterday as the stock was down by over 5 percent and went below the QIP price. Nifty was supported yesterday by PSU banks and Auto shares, while IT and private sectors banks were a drag.

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Nifty Small Cap Index traded at all time high with good overall participation. FIIs have been buyers yesterday and over the past few months, highlighting India's strong fundamental story.  

Nifty Futures is expected to open at 8953 as per SGX Nifty at 8:50 am IST, which is below its previous close of 8976.