RUPEE SLIPS FOR 3RD DAY, DOWN 5 PAISE TO 72.62 AGAINST USD

Indian rupee appreciated against major currencies except USD. Rupee opened 12 paise lower at 72.69 against US dollar, witnessed an intra-day high of 72.57 and a low of 72.70. Dropping for the third consecutive day, the Indian rupee fell by 5 paise to close at 72.62 against the US dollar on Thursday amid concerns over surging coronavirus cases in India and some other parts of the world.

Down trend continued in rupee for the third day in row following weakness in equities and increase in virus cases. With country battling a second wave of the pandemic and fund outflows ahead of financial year end, near-term risks are skewed to a higher dollar .On the domestic equity market front, the BSE Sensex slumped over 740 points or 1.51 per cent to close at 48,440.12, while the broader NSE Nifty dived 224.50 points or 1.54 per cent to 14,324.90.

US dollar appreciated against major currencies. EUR/ USD was down 0.27% to 1.1795. USD/JPY was up by 0.31% to 10913.GBP/USD down by 0.06% to 1.3704.