Rupee slumps 12 paise to 74.35 against U.S. dollar in early trade
Rupee opened at 74.33 against the dollar, then fell further to 74.35, registering a fall of 12 paise over its previous close
The Indian rupee declined 12 paise to 74.35 against the U.S. dollar in opening trade on Friday, tracking strength of the American currency in the overseas market and a muted trend in domestic equities.
At the interbank foreign exchange, the rupee opened at 74.33 against the dollar, then fell further to 74.35, registering a fall of 12 paise over its previous close.
On Thursday, the rupee had settled at 74.23 against the U.S. dollar.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading up 0.06% at 94.28.
According to Anil Kumar Bhansali, Head of Treasury, Finrex Treasury Advisors, amid risk-off sentiments, stocks fall, FPIs sell and inflation rises.
“USD-INR is expected to remain in the range of 74.10 to 74.50 for the day. Exporters are likely to…
