Rupee Tanks To Its Lowest In Six Months At 72.23 Per Dollar

Rupee in Friday's trade opened at 71.93, a heavy decline of 37 paise, as against its previous close of 71.56 per US dollar. But later in the afternoon session, on the back of global rout in stocks, it has gone below levels of 71.23 per dollar, its lowest in 6 months.

In the bond market, the yield on 10-year benchmark bonds came in at 6.38%.

Rupee To Open Lower; GDR Data Eyed

Oil has been on a losing streak ever since the coronavirus spread raised concerns over the recovery of the global economy which earlier tackled the US-China trade war issue as well as receding demand from China for the commodity. It is now trading at its lowest levels in a year

On Thursday brent crude settled lower by 2.3% at $52.18 per barrel as against the day's low of $50.97, the lowest since December 2018.

Also, traders in the forex market will keep a watch of the Q3 GDP due to be released today. Nonetheless, some of the analysts expect the GDP to remain static at 4.5% as like the previous quarter ended September. While the other view hails it can come in at 4.7% y-o-y.

Meanwhile, SGX Nifty which dropped over 1% signals an yet again weak start for the Indian indices.

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