You are here: Home » Markets » News
Business Standard

Rupee opens marginally lower against US dollar at 71.26

The domestic unit on Wednesday fell 17 paise to close at 71.24 amid a flare up of tensions between India and Pakistan.

SI Reporter  |  New Delhi 

rupee

The on Thursday opened marginally lower at 71.26, down 2 paise against the on Thursday. The domestic unit on Wednesday fell 17 paise to close at 71.24 amid a flare up of tensions between India and Pakistan.

came under pressure for the second successive session after tensions hightened between Indian and Pakistan. Uncertainty following the uncertainty could continue to keep market participants on the edge, says Gaurang Somaiya

Research Analyst (Currency) at Motilal Oswal Financial Services.

On the domestic front, investors will keep an eye on number. Expectation is that the growth number could disappoint and that could continue to keep the currency under pressure. Sustained surge in global could also weigh on the in the near term.

"Today, USD/INR pair is expected to quote in the range of 71.05 and 71.70," Somaiya adds.

On the global front, Asian stocks slipped on Thursday after cautious comments from US Trade Representative Robert Lighthizer dented some of the recent optimism towards Sino-US trade relations, while the dollar held gains, supported by higher bond yields, Reuters reported.

In currency markets, the dollar index against a basket of six major currencies stood little changed at 96.085.

In the commodity market, Oil prices slipped on record US crude output and China's weakening economy, said a Reuters report.

First Published: Thu, February 28 2019. 09:14 IST
RECOMMENDED FOR YOU