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Rupee Trades Weak At 71.39 against Greenback

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The domestic currency – rupee – slowed against US dollar on Friday on a strong footing of the USD in the international market. Moreover, a volatile share market mid-session movement on Friday, following the release of weaker-than-hoped economic data also weighed on the Indian rupee sentiment.

Furthermore, a steep rise in the number of Covid-19 (Corona Virus) cases in China, pressurized the rupee.

However, easing crude oil prices and FPI fund inflows aided the Indian unit-rupee and controlled its fall. The Foreign Institutional Investors (FIIs) purchased shares I value Rs.1061.39-Cr on Thursday, as per exchange data.

The rupee is currently trading at 71.39, lower by 13-ps from its last close of 71.26 on Thursday. It has touched a high and low of 71.40 and 71.29 respectively.

Meantime, Crude Oil prices were constant on Friday but are set for their first weekly gain in six weeks. Brent crude futures declined 9 cents to USD56.25/bl in early trade, after gaining 1 percent the previous session. Brent-Crude on a weekly-basis moved higher 3.3 percent, thus far. To avail the best  Stock trading tips and the all-time top commodity tips from our experts.

U.S. WTI futures were down by one cent to USD51.41 a barrel. The contract rose 0.5-percent on Thursday and is currently 2.2-percent higher for the week.