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Rupee weakens to 65

Rupee weakens to 65.40 on trade war concerns, dip in March exports

Mon Apr 16 2018


The rupee fell 20 paise to 65.40 against the US dollar in early trade on global trade war concerns, dip in March exports and a sharp drop in domestic equities.


According to forex dealers, geopolitical tensions over Syria and trade war concerns weighed on the domestic unit, but a weak dollar against major global currencies capped the rupee’s losses.


India’s exports dipped by 0.66 per cent to $29.11 billion in March, even as they increased by 9.78 per cent for the full 2017-18 fiscal.


The rupee had closed higher by 6 paise at 65.20 in the previous session on Friday on the back of positive macroeconomic data and firm local equities.


According to provisional data, foreign institutional investors (FIIs) sold shares worth Rs 399.59 crore on a net basis on Friday.


Meanwhile, the benchmark BSE Sensex dropped 293.31 points or 0.85 per cent to 33,899.34 in opening trade.



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