Rupee slips 33 paise to 71.94 against US dollar in early trade

February 28, 2020 10:16

The Indian rupee opened on a weak note and declined by 33 paise against the US dollar in opening trade on Friday, tracking heavy selling in domestic equities and sustained foreign fund outflows.

Forex traders said market participants were cautious after the benchmark 30-share sensitive index, Sensex, plummeted 1,083.85 points to 38,661.81 in opening session amid global selloff.

At the interbank foreign exchange the rupee opened at 71.90 then lost further ground and touched a low of 71.94 against the American currency, registering a fall of 33 paise over its previous close. The domestic unit had settled at 71.61 against the US dollar on Thursday.

China reported 44 more deaths from the novel coronavirus epidemic on Friday and 327 fresh cases. The death toll now stands at 2,788 in mainland China, according to the National Health Commission.

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