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Rupee Opens At 74.06 Per US Dollar

Roshni Agarwal

Rupee on Monday resumed trade at a weaker note at 74.06 versus its earlier close of 73.74 per US dollar. In Friday's trade, as market sell-off continued rupee touched an all time low of 74.50 per US dollar. But thereafter pared all its initial losses in the day.

Oil prices continued their falling streak on Monday and declined by over $1 per barrel after the US Federal Reserve taking heed of the calamity due to coronavirus outbreak cut rate again to boost the financial markets. Brent crude was down by$1.83 to $32.02 per barrel by 2332 GMT. US crude also fell $1.53 to $30.20.

Foreign portfolio investors in the March month so far have pulled out a massive Rs. 37,976 crore from the Indian markets.

Meanwhile, a 3% decline in the Nifty Futures on the Singapore Exchange indicates a gap-down opening.

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