Rupee plunges 23 paise to 73.65 against US dollar in early trade

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The Indian rupee plunged 23 paise to 73.65 against the US dollar in opening trade on Wednesday, tracking a strong American currency and muted trend in domestic equities. At the interbank foreign exchange, the rupee opened at 73.48 against the dollar, then fell to 73.65, registering a decline of 23 paise from the last close.

In the previous session, the rupee had settled at 73.42 against the US dollar. Meanwhile, the dollar index, which gauges the greenback''s strength against a basket of six currencies, rose 0.02 per cent to 92.53. Foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 145.45 crore, as per exchange data.

On the domestic equity market front, the 30-share index was trading 0.85 points lower at 58,278.63. Similarly, the broader NSE Nifty was trading 1.75 points down at 17,360.35. Global oil benchmark Brent crude futures advanced 0.04 per cent to USD 71.72 per barrel.

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