Posted by MUMBAI, Feb 06 (www.GoldTradingCalls.com) The rupee slipped against the US dollar on Friday, tracking the weak domestic equity markets and the stronger greenback in the international market. The Indian currency lost 46 paise to a US dollar, touching a month-low at INR 46.75.
The rupee opened at INR 46.46 and closed at INR 46.72, against the earlier close of INR 46.26.
While the rupee is inherently strong, one can’t disregard global investment markets and currency markets. There are lot of inflows which is supporting the rupee at these levels
In the overseas market, the US dollar is gaining because risk aversion is coming back into the market.
The Indian rupee weakened on the back of a strong US dollar overseas and losses in domestic investement market.
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