HOME > MARKETS > DEBT MARKET
  DEBT MARKET
MONEY MARKETS
Rupee weakens against US dollar on Friday
Nov-08-2019

Indian rupee weakened against the US dollar on Friday, followed by weak domestic equities after Moody’s Investors Service changed the outlook on India’s ratings to ‘negative’ from ‘stable’, saying there was increasing risks that economic growth will remain materially lower than the past. Although, sustained foreign fund inflows and easing crude oil prices capped the losses. Foreign institutional investors (FIIs) remained net buyers in the capital markets, putting in Rs 926.60 crore on Thursday, exchange data showed. On the global front, the dollar held gains against the safe-haven yen and the Swiss franc as a Sino-US agreement to roll back tariffs on each others' goods supported riskier assets, even as some reports suggest a preliminary trade pact is far from a done deal.

The partially convertible currency is currently trading at 71.26, weaker by 29 paise from its previous close of 70.97 on Thursday. The currency touched a high and low of 71.2850 and 71.1750 respectively. The reference rate for the dollar stood at 70.88 and for Euro stood at 78.51 on November 6, 2019. While the reference rate for the Yen stood at 65.00, the reference rate for the Great Britain Pound (GBP) stood at 91.32.

  RELATED NEWS >>