Rupee opens 4 paise up at 71.45 against dollar

The rupee on Friday opened 4 paise higher at 71.45 against the US dollar due to some selling in the American currency by banks and exporters.

The local currency slid for the second successive session on Thursday following rising concerns over outbreak of the coronavirus in China. China’s National Health Commission said the death toll from the virus outbreak in the country rose to 213 as of end-Thursday, with another 1,982 new cases confirmed.

The total number of confirmed coronavirus cases in China reached 9,692 as of end-Thursday.


Yesterday, the WHO declared that the coronavirus epidemic in China a public health emergency of international concern.

On the domestic front, market participants have been a little cautious ahead of the important GDP number and Union Budget that is scheduled this week.

“Today, USDINR pair is expected to quote in the range of 71.50 and 72.05,” Motilal Oswal Financial Services said.

Dollar was weighed down against its major crosses after data showed the economy in the last quarter of 2019 grew at 2.1 per cent.