The Indian rupee slid 14 paise to open at 71.90/$ vs. its previous close of Rs71.77/USD.
The local unit fell by 29 paise to end at 71.77/$ on Wednesday owing to rising fears of a global recession, which pushed investors to resort to safe havens such as the Japanese yen.
Asian markets are trading lower today as the trade dispute between the US and China hangs in the air, with no developments from either side.
Indian markets also made a weak start today as global cues weighed in despite the govt's FDI booster for various sectors announced late Wednesday.
The Cabinet relaxed FDI norms for single-brand retail, coal mining, and digital media in order to combat the slowdown that has hit the economy.
Post a Comment