Rupee slips 6 paise to 73.42 per dollar in early trade

Indian rupee, the domestic currency benchmark, fell 6 paise to 73.42 per US dollar on Friday's opening trade as forex market sentiment remained subdued amid concerns over resurgence in coronavirus cases in many parts globally.

On Thursday, the local currency settled at 73.36 against the greenback. The dollar index, fell 0.05 per cent to 93.81  against a basket of six currencies.

Rising COVID-19 cases in eurozone and fresh round of lockdown in many countries weighed on investors' sentiment, analysts suggested. Moreover, sentiments stayed muted as RBI is set to release its weekly FX reserves figures today.

On the domestic equity market front, Sensex was rising 290 points higher at 40,020 and Nifty gained by 55 points to 11,735.

Foreign portfolio investors (FPIs) sold shares worth Rs 604.07 crore, while domestic institutional investors (DIIs), were also net sellers to the tune of Rs 808.29 crore in the Indian equity market on 15 October, provisional data showed.

Brent crude futures, the global oil benchmark, fell 1 per cent to USD 42.73 per barrel. Oil price slipped as fresh restrictions were imposed as coronavirus infections climbed across Europe raising concerns over fuel demand and economic growth.

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