The Indian rupee slipped further in the morning trade as market participants awaited cues from the Union Budget to be presented in the Parliament on Friday. Also, the rupee fell in line with its Asian peers ahead of US non-farm payrolls and wage growth data due later on Friday as well as Federal Reserve Chairman Jerome Powells semi-annual testimony next week for more clues on the policy outlook.
The domestic unit opened at 68.55 against the dollar but dipped to a low of 68.69/$ so far during the day.
Finance Minister Nirmala Sitharaman is scheduled to present the maiden Budget of Modi 2.0 dispensation at 11 am in Parliament today.
The rupee had settled at 68.50 against the US dollar on Thursday.
Further, Foreign institutional investors (FIIs) were net sellers in the capital markets, pulling out Rs28.95cr on Thursday, as per provisional data.
On the economy front, the government Thursday projected the country's GDP growth for 2019-20 at 7% on the back of an anticipated pickup in investment and consumption.
Meanwhile, the Sensex fell 2 points at 39,906, while Nifty slipped 11 points at 11,935, below its key level 11,950 mark.
No comments