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Rupee Slips To Over Nine Month Low Of 72.23

Roshni Agarwal

Rupee in Tuesday's trade opened lower at 72.02, down 58 paise versus previous close of 71.40 per dollar.

Weak GDP data for Q1FY20 and 15-month low manufcturing PMI number for the August month pulled the home currency lower.

Rupee is expected to gain ground as the US Fed is stipulating measures to sustain expansion in view of the deteriorating economic outlook.

Meanwhile, Asian markets are trading weak as the sentiment turns weak after US-China tariff kick in. In the pre-opening, Indian indices opened strong at first and later pared all gains.

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