Indian rupee Vs dollar today: Sensex, Nifty losses weigh on domestic currency

Although trading over 65-mark, the Indian Rupee on Friday, was trading on a negative not against US benchmark dollar index. The decline in domestic unit was due to sharp losses recorded in global equity markets after US President Donald Trump imposed USD 60 billion of tariffs on Chinese imports. At around 1030 hours, Indian Rupee was trading 65.135 down by 0.036 paisa or 0.05% against US dollar. In early opening the rupee depreciated by 8 paise to 65.19 against the US dollar. 

A PTI report mentioned that, Trump yesterday directed the US trade representative to level tariffs on about USD 60 billion worth of Chinese imports after a seven-month investigation into the intellectual property theft, which has been a longstanding point of contention in US-China trade relations.

It needs to be noted that, this would be fifth-consecutive day, where Indian Rupee has been trading over 65-level per dollar, and also, it has managed to reach over 5-month high. 

In previous trading session, the rupee had ended 10 paise higher to close at 65.11 against the US currency on foreign fund inflows after the US Federal Reserve stuck to its outlook of three rate hikes this year.

Meanwhile, foreign investors on Thursday, made gross purchase of Rs 7715.60 crore, while made gross sales of Rs 6871.86 - with this recording inflow of Rs 843.74 crore together in equity, debt and hybrid market, as per NSDL report. 

At the same time, Sensex was trading 32,614.06 down by 392.21 or 1.19%, while Nifty 50 tumbled by a massive 129.20 points or 1.28% trading at 9,985.55. In early trade, the benchmark BSE Sensex cracked below the 33,000-mark by plunging 471.44 points, or 1.42 per cent, to 32,534.83, while the broader NSE Nifty dipped below the 10,000 in opening trade.