Rupee recovers ; opens opens higher at 67.78 per dollar

Rupee recovers ; opens opens higher at 67.78 per dollar

The Indian rupee recovered in the early trade on Friday post breaching 68 level in the yesterday's session. It opened higher by 24 paise at 67.78 per dollar versus 68.02 Thursday. 

 

Pramit Brahmbhatt of Veracity said, "A rebound in global as well as domestic equity market will help rupee gain. The range for the USD INR is seen between 67.60-68.10/dollar levels today."

Russian rouble tumbles to record low, stocks fall again

Russia's rouble fell sharply to a new record low on Thursday, following the latest slide in oil prices, and selling pressure remained firmly on emerging market stocks already suffering their worst start to a year. 

 

The benchmark emerging equity index was down 0.7 percent to fresh six - and - a -half year lows, led lower by Chinese mainland stocks and Russian shares , with dollar-denominated stocks touching a 13 - month low. 

 

The rouble plunged through 83 to the dollar for the first time on record in early Moscow trading and didn't stop until it had gone past, weakening 4.4 percent on the day. 

 

As well as the sell off in currencies and stocks, EM dollar - bond spreads over safe -haven U.S. treasuries have blown out to 514 basis points (bps), the highest in almost seven years