The Indian rupee slipped 4 paise to close at 73.68 (provisional) against the US dollar on Friday, following weaker Asian friends against the American forex.
At the interbank overseas trade market, the native forex opened at 73.77. It touched an intra-day excessive of 73.61 and a low of 73.78 in the course of the day.
The rupee lastly settled at 73.68 against the American forex, down 4 paise over its earlier close.
In the earlier session on Thursday, the rupee had closed at 73.64 against the US dollar.
Meanwhile, the dollar index, which gauges the dollar’s energy against a basket of six currencies, was buying and selling 0.06 per cent larger at 93.14.
“The Indian rupee depreciated following weak spot in Asian friends and rebound in dollar after risk-off moods. Markets seem to have taken the choice of Federal Open Market Committee (FOMC) as hawkish as (*4*) moved larger whereas danger property seen lengthy unwinding,” stated Dilip Parmar, Research Analyst, HDFC Securities.
Spot USD/INR is predicted to commerce within the vary of 73.40 to 73.95 following month-end dollar demand and risk-off tones.
“Data docket stays gentle in the present day amid the weekend, although loads of Fed audio system shall be on the wire which might deliver again volatility in foreign exchange markets,” Parmar added.
Brent crude futures, the worldwide oil benchmark, superior 0.25 per cent to USD 77.44 per barrel