The rupee slipped against the US dollar on Friday, tracking the weak domestic equity markets and the stronger greenback in the international market. The Indian currency lost 46 paise to a dollar, touching a month-low at 46.75.
The rupee opened at 46.46 and closed at 46.72, against the earlier close of 46.26.
“While the rupee is inherently strong, one can't disregard global equities and currency markets. There are lot of inflows which is supporting the rupee at these levels,” said a dealer with a private bank.
The euro declined by 200 basis points against the dollar during the day. If the euro weakens still further, the rupee could open at 47, on Monday, said the dealer.
In the overseas market, the dollar is gaining because risk aversion is coming back into the market.
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