Rupee on sticky pitch, opens 15 paise down
NEW DELHI: The rupee on Friday started with a loss of 15 paise at 68.83 against the dollar.
The domestic unit on Thursday reversed its two-day rally to end lower by 5 paise at 68.68 on renewed buying interest for the American currency.
Escalating trade war and sanctions dominated headlines and continued to play a critical role in driving the forex market sentiment after the US imposed fresh tariffs on imported goods from China and sanctions against several other nations, PTI reported.
On the global front, Asian stock markets fell on Friday amid heightened global trade tensions. But currency markets were beaten by a searing selloff in Russia's rouble after the United States imposed new sanctions, and economic worries sent the Turkish lira tumbling, Reuters reported.
Oil prices fell, pulled down by concerns that the escalating trade dispute between the United States and China would stall economic growth and fuel demand.
The domestic unit on Thursday reversed its two-day rally to end lower by 5 paise at 68.68 on renewed buying interest for the American currency.
Escalating trade war and sanctions dominated headlines and continued to play a critical role in driving the forex market sentiment after the US imposed fresh tariffs on imported goods from China and sanctions against several other nations, PTI reported.
On the global front, Asian stock markets fell on Friday amid heightened global trade tensions. But currency markets were beaten by a searing selloff in Russia's rouble after the United States imposed new sanctions, and economic worries sent the Turkish lira tumbling, Reuters reported.
Oil prices fell, pulled down by concerns that the escalating trade dispute between the United States and China would stall economic growth and fuel demand.