Rupee Slips Below 76 Per US Dollar On Equity Market Sell-Off, Dollar Index Gains

In trade on Friday (June 12, 2020), domestic currency rupee scaled down to day's low of 76.10 per US dollar. At 10:26 am, the currency traded at 76.03 against the greenback.

Rupee Slips Below 76 Per US Dollar On Equity Market Sell-Off, Dollar Index Gains

Gains in the dollar as sentiments worsened on economic recovery due to second wave of coronavirus infection and sell-off in the equities led to the fall.

Indian currency has been the worst performing currency against its Asian peers despite swift foreign flows.

In the bond market, the yield on benchmark bond stood at 5.786%.

Oil prices also slid on fears of demand recovery owing to the coronavirus led crisis. In the previous day, the crude prices slumped by as much as 7%.

Meanwhile, tracking losses of up to 5% on all the 3 US indices, the Indian equities opened with a wide gap down, with Nifty at 9687 points.

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