Indian rupee touched fresh low in afternoon trade on February 5 at 87.50 against the US dollar amid weak Asian equities.
The local currency opened 5 paise lower at 87.1263 against the US dollar in the morning, as compared to 87.0762 at previous close.
Asian equities trimmed their gains after Chinese shares opened lower as caution prevailed among investors with trade tensions rising between the world’s two largest economies.
Hong Kong equities fell while a gauge of Asian shares gave up some of its advance as China’s market reopened Wednesday after Lunar New Year holidays. Contracts for US equities edged lower as Google’s parent Alphabet Inc. and Advanced Micro Devices Inc. tumbled in extended trading. Treasury yields edged higher and the yen gained against the dollar.
On February 4, Indian rupee got some support due to easing tariff uncertainties and easing liquidity deficits even as global headwinds keep volatility alive.
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