Rupee Slips 14 Paise Against US Dollar in Early Trade
The rupee rebounded by 52 paise to close at 70.72 against the US dollar on Thursday as sentiments revived on signs of de-escalation of tensions between India and Pakistan.
Mumbai: The rupee depreciated by 14 paise to 70.86 against the US dollar in early trade on Friday on increased demand for the US currency from importers and foreign fund outflows.
Besides, strength in the dollar against major rival currencies on stronger US economic data also kept the pressure on the Indian rupee, dealers said.
However, a higher opening in domestic equities helped in restricting the slide in the Indian unit to some extent, they added.
On the macro-economic front, a caution prevailed after official data showed that the country's economic growth slowed to a 5-quarter low of 6.6 per cent in the October-December period.
Also, economic growth estimate for the current fiscal year ending March 31 has been revised downwards to 7 per cent from the earlier estimate of 7.2 per cent. This is the lowest growth in the last five years.
On Thursday, the rupee rebounded by 52 paise to close at 70.72 against the US dollar as sentiments revived on signs of de-escalation of tensions between India and Pakistan.
Meanwhile, the benchmark BSE Sensex was quoting higher by 206.19 points, or 0.57 per cent, to 36,073.63 in opening deals.
Get the best of News18 delivered to your inbox - subscribe to News18 Daybreak. Follow News18.com on Twitter, Instagram, Facebook, Telegram, TikTok and on YouTube, and stay in the know with what's happening in the world around you – in real time.
Recommended For You
- Ahead of Festival, Indian-American Entrepreneur Launches 'Holi Ghee' to Pay Homage to Desi Sweets
- A Wall, Whiter Taj and Stink-free Yamuna: The Many Ways India is 'Cleaning Up' to Welcome Trump
- Icons on Your Windows 10 PC Are Set to Get Their First Big Makeover in Years
- Google is Throwing Out Apps That Bother Users With Adverts; Almost 600 Have Been Binned
- Mentally Unsound Man Poses as Doctor, Prescribes Medicines to Patients in Madhya Pradesh