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Rupee trades lower at 71.65 per dollar

Date: 21-02-2020
Subject: Rupee trades lower at 71.65 per dollar
The Indian rupee has recovered from from the day's low but still trading lower by 9 paise at 71.65 per dollar, with selling seen in the domestic equity market.

It opened 23 paise lower at 71.79 per dollar versus Tuesday close of 71.56.

The currency markets was shut on Wednesday, February 19, due to a banking holiday on account of Chatrapati Shivaji Maharaj Jayanti.

On Tuesday, the rupee shed 24 paise to end at 71.56 against the US dollar as concerns over the economic fallout from coronavirus outbreak continued to roil forex market sentiment.

The Sensex was down 0.16 points at 41,322.84, and the Nifty was up 5.10 points at 12,131.00.

Oil prices rose nearly 1% on Thursday, extending big gains from a day earlier, as the market worried about crude supply disruptions and demand concerns were cushioned after a sharp drop in new coronavirus cases at the epicenter of the outbreak.

Source: moneycontrol.com

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