Indian rupee: The rupee slips to 68.70 against dollar at the start



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The rupee flew into an air pocket from the start Thursday – down 8 paise – to 68.70 against the dollar.

The US currency was back in favor of banks and importers.

On Wednesday, the local currency closed at 17 pence down to 68.62.

Meanwhile, domestic equity markets had a good start with positive global indices. The ESB Senbad opened 135.64 points, or 0.37 percent, at 36,509.08. The Nifty NSE climbed 19.05 points, or 0.17%, to 10,999.50.

According to ICICIdirect.com, the dollar ended Wednesday against higher currencies due to gains against the pound, while the yen ended slightly higher on the return of the lows. near The dollar index is close to the crucial level of 95.

"The strength of current levels would weigh on emerging currencies, including the rupee," the brokerage said.

Sovereign bond yields remained unchanged in the previous session even as central bank OMOs purchase funded bonds. Domestic debt also benefited from the recent fall in crude oil prices.

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