Rupee extends losses, trades at day#39;s low
We feel the trading range with support near 75 levels would continue, says ICICIdirect.
Indian rupee extended the early losses and trading at day’s low level at 75.23 per dollar, amid selling seen in the domestic equity market.
It opened 15 paise lower at 75.14 per dollar versus Thursday close of 74.99.
On July 9 the rupee ended flat at 74.99 per dollar.
At 11:08 IST, the Sensex was down 210.03 points or 0.57% at 36527.66, and the Nifty was down 62.50 points or 0.58% at 10751.00.
The rupee closed almost flat while no major OI was seen in the USD-INR pair. We feel the trading range with support near 75 levels would continue, said ICICIdirect.
The dollar-rupee contract on the NSE was at 75.18 in the last session. The open interest remained almost flat in the last session, it added.
Oil prices dipped on Friday after steep falls in the previous session and were set for a weekly decline on worries renewed lockdowns following a surge in coronavirus cases in the United States and elsewhere will suppress fuel demand.
Gold was set for a fifth straight weekly gain as the COVID-19 pandemic showed no signs of abating, keeping the safe-haven metal above the key $ 1,800 level on Friday.
First Published on Jul 10, 2020 10:00 am