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Rupee vs Dollar: Rupee slips 15 paise to 75.62 amid strong dollar, US-China trade tensions

Forex traders said sustained foreign fund flows and the revival of business activities supported the local unit, but concerns about US-China trade tiff dragged the local unit down

Extending sharp losses from the previous session, gold prices for June futures on the Multi Commodity Exchange fell by Rs 196, or 0.42%, to Rs 46,600 per 10 gm
On the equities front, the 30-share BSE benchmark Sensex was quoting 361.71 points higher at 34,187.24 and broader Nifty rose 107.80 points to 10,086.90.
The rupee opened at 75.32 at the interbank forex market and then gained further ground to touch 75.30, up 32 paise over its last close
The rupee opened weak at 75.72 at the interbank forex market and then fell further to 75.74, down 8 paise over its last close
Forex market was closed on Monday for Id-Ul-Fitr. On Friday, rupee had settled at 75.95 against the US dollar
U.S. West Texas Intermediate (WTI) crude futures gained 68 cents, or 1.9%, at $37.49 a barrel. It rose to as much as $37.88, also the highest since March 6
The bourse had reduced the agriculture commodity trade timing to 5 pm after the breakout of coronavirus pandemic
Forex traders said rising US-China tension weighed on the local currency even as positive domestic equities and improving risk appetite supported the local unit
Brent crude futures were up nearly 1.7%, or 59 cents to $36.12, adding to a 1.1% gain on Monday in thin holiday trading
Beijing, nonetheless, pledged to issue 1 trillion yuan ($140 billion) of special treasury bonds to support companies and regions hit by the pandemic