Research Icon - Rupee opens higher by 5 paise at 71.44/$

The Indian rupee opened higher at 71.44/$ on Friday vs. its previous close of 71.49/$.

On January 30, the rupee ended 22 paise lower at 71.49/$ owing to a heavy sell-off in domestic equities and rising concerns over the outbreak of the China virus.

Oil prices gained on Friday after witnessing sharp losses this week even as the World Health Organization (WHO) advised travel and trade restrictions in declaring a global emergency over the spread of the coronavirus that originated in China.

Meanwhile, the US economic growth slowed to 2.3% in 2019. China's factory activity stalled in January as the virus outbreak led to a fall in export orders. PMI fell to 50.0 from 50.2 in Dec, even as trade tensions eased.  

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