The local unit hit a low of 64.28 and a high of 64.19 against the US dollar.
The rupee today opened at 64.01 against the US dollar. The local unit hit a low of 64.28 and a high of 64.19 against the US dollar.
On Thursday, rupee ended at 64 against the US dollar.
Global cues are not helping the cause for now. The Dow was down almost a percent while S&P 500 fell 0.86%. Nasdaq lost 0.8%. Asian markets are mostly lower with Nikkei and Hang Seng in the red but China’s Shanghai is trading over a percent higher.
With Chinese stocks running up over 140% in the last one year, compared to around 10% gains in the Nifty, reports indicate some investors could shift allocation to India given the valuation concerns in China.
On Thursday, rupee ended at 64 against the US dollar.
Global cues are not helping the cause for now. The Dow was down almost a percent while S&P 500 fell 0.86%. Nasdaq lost 0.8%. Asian markets are mostly lower with Nikkei and Hang Seng in the red but China’s Shanghai is trading over a percent higher.
With Chinese stocks running up over 140% in the last one year, compared to around 10% gains in the Nifty, reports indicate some investors could shift allocation to India given the valuation concerns in China.
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