On Thursday, the domestic unit had appreciated 24 paise at 69.44/$.
The Indian rupee declined 32 paise on Friday to trade at day’s low level of 69.76 against the American currency. The currency has opened 31 paise higher at 69.75/$.
On Thursday, the domestic unit had appreciated 24 paise at 69.44/$. At 10:05 AM, IST the currency was trading 25 paise lower at 69.69/$.
The depreciation could be attributed to increased crude oil prices in the global markets. As per Bloomberg data, Brent crude was up 0.1% at $64.56/barrel and US West Texas Intermediate (WTI) crude was up 5.38% at $56.65/barrel.
Crude oil prices rallied after President Donald Trump warned that Iran made “a very big mistake” after it boasted of downing a US spy drone. As per media reports, Iran shot down the drone near the Strait of Hormuz, a major choke point for world crude shipments, spurring market fears of a confrontation that could badly constrain supplies.
Meanwhile, equity benchmark indices were trading in the red on Friday with the Sensex declining 206 points at 39,395 levels. The Nifty dropped 54 points at 11,778 levels.
Get more details here:
Call on:9977499927
* Investment & Trading in securities market is always subjected to market risks, past performance is not a guarantee of future performance.
Thanks for your valuable information. stock investor is a stock related website which provides day to day information of the stock market.
ReplyDeleteTinplate Company of India Ltd
ABB India Ltd