Rupee trades lower by 6 paise at 71.69 against US dollar

The Indian rupee settled 12 paise lower at 71.74 against the US dollar on Friday.

Dec 02, 2019 04:12 IST India Infoline News Service

Indian Rupee
The Indian rupee opened lower at 71.78 per dollar on Monday vs. Friday's close 71.74/$. The currency is trading lower by 6 paise at 71.69 against US Dollar.

The Indian rupee settled 12 paise lower at 71.74 against the US dollar on Friday.

Besides, foreign institutional investors (FIIs) sold shares worth Rs1,892.29cr, while domestic institutional investors (DIIs) bought shares of worth Rs953.62cr in the Indian equity market on November 29, as per provisional data available on the NSE showed.

On the economy front, India’s GDP growth has moderated to 4.5% for the quarter ended September 2019 from 5% in June 2019 quarter and 7% in June 2018 quarter.

The Eight Core Industries carrying 40.27% weight in the Index of Industrial Production (IIP) recorded a 5.8% decline in the output for October 2019 over October 2018. Its cumulative output rose a mere 0.2% in April-October 2019-20.

Further, GST revenues saw positive growth of 6% in November 2019 over the November 2018 collections. The gross GST revenue collected in the month of November 2019 stood at Rs1.03 lakh cr.

Overseas, Asian stocks were trading higher on Monday as official data over the weekend showed Chinese factory activity rising unexpectedly in November. Also, investors clung to hopes Beijing and Washington could reach a compromise in trade talks.

Back home, indices opened in the green following Asian stocks which were up over a rise in manufacturing activity in China.

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