Rupee slips to 94.50 as US dollar strengthens, oil jumps
Business
The rupee slipped to 94.50 against the US dollar on Friday, dropping nine paise from the previous close.
This dip came as the dollar got stronger and global oil prices shot up.
The rupee did manage a quick bounce to 94.36 during the day, but opened at 94.50 in early trade and later recovered to touch a high of 94.36.
Foreign investors pump ₹14,974.68 cr
Indian stock markets were a bit all over the place: Sensex inched up while Nifty slid down.
Meanwhile, foreign investors kept things lively by pumping ₹14,974.68 crore into equities on Thursday.
Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan, is still upbeat about the rupee's future thanks to strong local markets and fresh FII inflows, though he admits global tensions could shake things up a bit.