One of the driving forces behind the growth is the adventurous spirit of millennials and Gen Z
The Indian rupee depreciated four paise to 82.80 against the US dollar (22.56 versus the UAE dirham) in early trade on Friday due to losses in Indian equities and risk aversion in global markets.
However, a weak greenback supported the South Asian currency and restricted the decline, forex traders said.
At the Indian interbank foreign exchange, the rupee opened weak at 82.84 against the dollar, then gained some ground to quote at 82.80, registering a fall of 4 paise over its previous close.
In the previous session on Thursday, the rupee settled 27 paise lower at 82.76 against the US dollar.
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.28 per cent to 104.27.
Brent crude futures, the global oil benchmark, advanced 0.59 per cent to $81.69 per barrel.
In the Indian equity market, the 30-share BSE Sensex was trading 293.36 points or 0.47 per cent lower at 61,505.67. The broader NSE Nifty fell 77.85 points or 0.42 per cent to 18,337.05.
Foreign Institutional Investors (FIIs) turned net sellers in the capital markets on Thursday as they offloaded shares worth Rs7.1 billion, according to exchange data.
(With inputs from PTI)
ALSO READ:
One of the driving forces behind the growth is the adventurous spirit of millennials and Gen Z
Figure reflects the emirate’s growing appeal as a preferred investment hub for innovative technology companies
SIB has continued to maintain a strong liquidity, amounting to Dh15.3 billion
Corporate tax registration deadlines for foreign entities
Many individuals see the precious metal as a long-term investment and choose to hold back despite the high rates
Investments in infrastructure, population growth to spur topline growth, S&P says
Strategic agreement made for Marine Lubricants Supply
ADCB has moved up four places to rank 109th in Brand Finance’s latest report