Mumbai, Feb. 24 -- The Indian rupee is likely to stay cautiously lower on Monday morning amid negative cues from equities. U.S. markets crashed on Friday amid economic slowdown worries. Continued foreign fund outflows, concerns over U.S. President Donald Trump's tariff stance in his second term in office and the discovery of HKU5-CoV-2, a new coronavirus variant found in bats, may also keep investors on the edge in a holiday-shortened week. Indian markets will remain shut on Wednesday, February 26, for Mahashivratri. On Friday, rupee pared initial gains and settled 7 paise lower at 86.71 against the US dollar. Indian shares closed lower on Friday. The benchmark 30-share BSE Sensex fell 424.90 points, or 0.56 percent, to 75,311.06 while the ...
Click here to read full article from source
To read the full article or to get the complete feed from this publication, please
Contact Us.