Indian rupee falls 19 paise to 74.09 against US dollar in early trade

The rupee declined by 19 paise to 74.09 against the US dollar in opening trade on Friday, as muted domestic equities and elevated crude oil prices weighed on investor sentiments. Forex traders said the local unit fell following more hawkish comments by Federal Reserve officials.

At the interbank foreign exchange, the rupee opened weak at 74.05 against the US dollar, then fell further to 74.09 against the greenback in early deals, registering a decline of 19 paise from the last close. On Thursday, the rupee rose 3 paise to close at 73.90 against the US dollar. Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell by 0.11 per cent to 94.68.