\n
Mumbai<\/h3>\n
The Indian rupee on Friday declined by rupees to 79.78 per dollar at the interbank foreign exchange market due to a weak trend in the domestic equity market and the strengthening of the dollar in overseas markets. The rupee opened at 79.80 against the dollar in the interbank foreign exchange market.<\/p>\n
After revolving in the range of 79.71 and 79.85 in day\u2019s trading, it finally closed at 79.78 with a fall of the Indian rupee against the dollar. The rupee had closed at 79.71 per dollar in the previous trading session.<\/p>\n
Anuj Choudhary, Research Analyst, BNP Paribas by Sharekhan said, \u201cWe expect the rupee to trade in a negative trend for now due to a strong dollar and risk aversion in global markets.<\/p>\n
International Monetary Fund (IMF) spokesman Gerry Rice expressed concern over a further slowdown in the global economy and said there is a possibility of a recession in some countries in the year 2023.<\/p>\n
The rupee also remained under pressure on fears of an aggressive rate hike by the Federal Reserve. Meanwhile, the dollar index, reflecting the US dollar\u2019s position against the six major currencies, rose 0.29 per cent to 110.05. Global oil standard Brent crude futures were up 0.24 per cent at $ 91.06 per barrel.<\/p>\n
The 30-share Sensex of BSE closed at 58,840.79, down 1,093.22 points. Foreign institutional investors (FIIs) sold shares worth a net Rs 3,260.05 crore on Friday, according to provisional stock market data.<\/p>\n<\/p><\/div>\n
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