INSUBCONTINENT EXCLUSIVE:
close at 71.44 against US dollar amid strengthening of greenback and heavy selling in domestic equities
Concerns over slowing global growth and foreign capital outflows weighed on local unit, forex traders said
At Interbank Foreign Exchange (forex) market, rupee opened higher at 71.22 but came under selling pressure
It finally finished at 71.44 per dollar, down by 16 paise against its previous close
IMF predicted global economy will grow at weakest pace in three years in 2019 and warned fresh trade tensions would spell further
trouble."The benchmark 10-year bond yield held steady around yesterday's level of 7.30 per cent
So far this month, rupee has declined 1.87 per cent, while overseas funds sold $554.5 million in equity and $193.10 million in debt
US-China trade talks and US federal government shutdown triggered safe heaven buying and helped greenback and Japanese yen trade higher
The 30-share BSE Sensex dropped 134.32 points to end at 36,444.64, while broader NSE Nifty finished 39.10 points lower at 10,922.75.
