Mumbai, May 14 The rupee slipped 10 paise to close at 75.56 (provisional) against the US dollar on Thursday, following tracking weak domestic equities.
Forex traders said market participants were worried about the fiscal deficit worries over the Rs 20-lakh-crore economic stimulus package as there is still no clearness on how the package would be financed.
Moreover, investors are worried over foreign fund outflows and the effect of coronavirus cases on the economy.
The local unit opened weak at 75.57, finally settled at 75.56 against the US dollar, down 10 paise over its previous close.
It had settled at 75.46 against the US dollar on Wednesday.
Domestic bourses were trading on a negative note with the benchmark Sensex falling 898.94 focuses to 31,109.67 and the investors broader Nifty down 228.15 points at 9,155.40.
Foreign institutional investors were net sellers in the capital market, as they sold value shares worth Rs 283.43 crore on Wednesday, as per temporary trade information.
In India, the death toll due to COVID-19 rose to 2,549 and the number of cases climbed to 78,003, according to the Health Ministry.
Meanwhile, the number of cases around the world linked to the disease has crossed 43.60 lakh and the death toll has topped 2.97 lakh.
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