Rupee slips 12 paise to 71.seventy four towards dollar – Economic Occasions

Mumbai: The Indian rupee on Friday settled 12 paise lower at 71.seventy four towards the US dollar, tracking large promoting in domestic equities and progress problems forward of the release of GDP data.

Fx traders explained month-stop dollar need from importers and uncertainty over the US-China trade talks also weighed on the domestic currency.

At the interbank overseas exchange industry, the community currency opened weak at 71.sixty three and throughout the working day, it lost further more ground and fell to a minimal of 71.87.

The rupee last but not least settled at 71.seventy four, lower by 12 paise towards its former close. On Thursday, the community unit experienced settled at 71.sixty two towards the greenback.

On a weekly foundation, the domestic unit has lost 3 paise.

Fx traders explained investors turned cautious forward of the release of the Q2 gross domestic product or service (GDP) numbers. The second-quarter GDP range is scheduled to be announced later on in the working day.

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