INR vs USD: On Thursday, the rupee had depreciated by 11 paise to close at 73.27 against the dollarThe rupee weakened by 17 paise to hit an intraday low of 73.44 against the dollar on Friday, amid increased demand of the American currencyfrom importers and sustained foreign fund outflows, reported news agency Press Trust of India.
Strength in the dollar against a group of currencies overseas and a lower opening in the domestic equity markets also weighed on the rupee, the agency cited traders as saying.On Thursday, the rupee had depreciated by 11 paise to close at 73.27 against the dollar.
The rupee is still down more than 14 per cent so far this year.Here are five things to know:1.
On a net basis, foreign funds sold shares worth Rs 1,495.71 crore, while domestic institutional investors bought shares to the tune of Rs 339.60 crore on Thursday, provisional data showed.2.Domestic stock markets started Friday's session on a lower note as the November derivatives series took off on a weak note amid negative Asian cues.3.
Globally, crude Oil prices fell on Friday and were heading for a third weekly loss, pulled down as Saudi Arabia's OPEC governor said the market may become oversupplied soon and after a slump in global equities clouded the outlook for demand.4.
Brent crude futures were down 51 cents, or 0.7 per cent, at $76.38 a barrel by 9:01 am, according to news agency Reuters.5.
Asian shares slipped on Friday, deepening this week's markets rout, after disappointing results from Alphabet Inc and Amazon.com heightened concerns over the outlook for UScorporate earnings, global trade and economic growth.