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    HomeNewsBusinessMarketsRupee recovers but trades lower at 75.98 per dollar

    Rupee recovers but trades lower at 75.98 per dollar

    On June 11, the rupee has ended 19 paise lower at 75.78 per dollar.

    Rakesh Patil
    June 12, 2020 / 10:57 IST

    Indian rupee has recovered some ground but trading lower at 75.98 per dollar, amid selling seen in the domestic equity market.

    It opened 32 paise lower at 76.10 per dollar against Thursday's close of 75.78.

    At 10:55 IST, the Sensex was down 584.39 points or 1.74% at 32953.98, and the Nifty was down 163.85 points or 1.65% at 9738.15.

    Oil prices slid early on Friday, extending heavy overnight losses on a surge in US coronavirus cases this week that has raised the prospect of a second wave of the outbreak slamming demand in the world’s biggest consumer of crude and fuel.

    The dollar-rupee contract on the NSE was at 75.89 in the last session. The open interest declined marginally by 2.6% in the June series while for the July series it increased by 7.5%, said ICICIdirect.
    Wednesday’s Fed meeting soured risk sentiment causing equity markets around the world to pare recent gains. In turn, this led to a relief rally in the dollar. EUR/USD, however, has managed to hold near recent highs, it added.
    Rakesh Patil
    first published: Jun 12, 2020 10:00 am

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