Research Icon - Rupee slips 15 paise at 71.08/$

The Indian rupee slipped by 15 paise at 71.08 against the US Dollar in the morning trade amid strengthening of the US dollar against other currencies overseas.

Besides, foreign fund inflows and easing crude oil prices capped the losses of the local unit. On the economy front, the GST Council will meet today.

The yield on the 10-year government bond was at 6.751% compared to its previous close of 6.752%.

The dollar index, which measures the US currency’s strength against a basket of major currencies, was up 0.1% at 97.32 from its previous close of 97.22.

The local unit on Tuesday settled 2 paise down at 70.98 against the US currency amid lack of any major triggers on the domestic front.

Further, foreign institutional investors (FIIs) bought shares worth Rs1,248.47cr, while domestic institutional investors (DIIs) sold shares of worth Rs908.16cr, provisional data available on the NSE showed.

Meanwhile, oil retreated after rising more than 1% in the previous session as US industry data showed a surprise build in crude stocks, but hopes for firmer demand next year checked a deeper fall in prices.

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