Mumbai, India (BBN)-Rupee opened nearly 6 paise lower at 66.80 against the US dollar on Wednesday on account of selling on the US greenback by banks and exporters amid subdued opening of domestic equity markets.
Benchmark stock indices BSE Sensex and NSE Nifty opened 197.29 points and 83.45 points down at 27,679.32 and 8,542.80, respectively, reports The Economic Times.
At 9:20am, rupee was trading 7 paise down at 66.82 against the US dollar.
Selling by foreign institutional investors or foreign portfolio investors in the equity segment also dampened market sentiments on Wednesday as their net outflow stood at Rs 1,060.39 crore on Tuesday, according to the data available with NSDL.
Their gross purchases stood at Rs 656.11 crore, gross sales remained at Rs 1716.50 crore.
The local currency advanced 8 paise on Tuesday after better-than-expected manufacturing sector growth, which climbed to a 22-month high in October, driven by a sharp increase in new orders.