Due to the fall in the domestic stock market and the strength of the US currency, the rupee fell 24 paise to 73.76 during the early trade on Thursday (September 17th, 2020). In the interbank foreign exchange market, the local currency opened and fell further to 73.76 with a weak trend at 73.70, indicating a fall of 24 paise over the previous closing price.
The rupee had gained 12 paise to close at 73.52 against the US dollar on Wednesday. The dollar index, showing the position of the US dollar against six major currencies, rose 0.32 percent to 93.51.
Meanwhile, the two-day policy meeting of the US Federal Reserve ended on Wednesday. According to provisional data of the stock market, foreign institutional investors bought equity of Rs 264.66 crore on a gross basis on Wednesday. Brent crude was down 1.07 percent at the US $41.84 per barrel.