Research Icon - Rupee opens lower by 23 paise at 71.89 against US Dollar

The Indian rupee opened lower by 23 paise against the dollar, tracking losses in Asian currencies and equities amid rising concerns about the spread of the coronavirus beyond China.

The domestic currency started at 71.89 per dollar against Thursday's close of 71.65/$. The currency markets were shut on Friday on account of Mahashivratri.

The rupee on Thursday settled lower by 10 paise at 71.64 against the US dollar amid heavy selling in domestic equities and strengthening of the American currency in the overseas market.

Besides, foreign institutional investors (FIIs) bought shares worth Rs1,495.25cr and domestic institutional investors (DIIs) sold shares of worth Rs699.62cr, as per provisional data available on the NSE showed.

Meanwhile, global markets and oil fell while safe-haven gold surged as the spread of the coronavirus outside China darkened the outlook for world growth with infections and deaths rising in South Korea, Italy and the Middle East.

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