INR Vs USD: On Wednesday, the rupee declined 17 paise against the US dollar.The Indian rupee pared initial gains to slip 7 paise to 71.82 against the US dollarin late morning deals today, reported news agency Press Trust of India (PTI).
According to forex dealers, the fall in Indian currency is on bouts of dollar demand from banks and importers.
Earlier, the rupee resumed higher at 71.62 against Wednesday's closing level of 71.75 a dollar at the interbank foreign exchange market.
The domestic unit hovered in wide range of gains and losses between 71.62 and 71.95 during morning dealsHere are key things to know:1.
Finance Minister Arun Jaitley attributed the fall in rupee to global factors and stressed that the domestic unit was better off as compared to other currencies.
He further said the Reserve Bank is doing whatever is necessary to deal with the situation.2.
According to a Reuters report, RBI likely intervened mildly in the forex markets on Wednesday as the rupee hit a fresh low in line with other emerging market currencies hurt by dollar strength and simmering trade tensions.3.
On Wednesday, the rupee declined 17 paise against the US dollar to close at another closing low of 71.75.
That marked the sixth consecutive session with the rupee settling lower against the greenback.4.
The unabated fall continued for the sixth straight session as surging oil prices and weak trend in emerging market currencies weighed on sentiments.
Intra-day, the domestic unit plummeted to a historic low of 71.97 a dollar before finding some respite on Wednesday.5.
Meanwhile, benchmark equity indices opened on a flat note on Thursday.
The SP BSE Sensex rose 47.82 points or 0.13 per cent to trade at 38,066.13.
The broader Nifty50 climbed 26.70 points or 0.23 per cent to trade at 11,503.65.6.
Asian shares fell for the sixth straight session on Thursday as oil skidded and safe-haven gold gained, with investor confidence shaken by turmoil in emerging markets and jitters over a potentially severe escalation in the US-China trade war.7.
Oil prices fell on Thursday as emerging market woes weighed on sentiment.
(With agencies inputs)