Dollar closed at 64.0550 against its opening at 64.1150. Dollar fluctuated during European trades as likely overseas fund outflows from local stocks offset selling by foreign banks, dealers said. Local stocks traded lower falling most in over 4-months, as investors offloaded their positions after the Budget proposed new long-term capital gains tax while higher fiscal deficit target for 2018-19, seen adding inflationary pressure. On Thursday, Finance Minister Arun Jaitley, in the Union Budget FY2018-2019 proposed to levy a 10% tax on gains of over Rs 100,000 from sale of equities after a year while lowering the corporate tax rate to 25% from 30% for companies with an annual turnover of over Rs 2.5 billion. Globally, Asian markets came under pressure on Friday after Wall Street closed mixed and yields on US government debt rose in the last session.
Dollar index, which weighs greenback against a basket of six major currencies traded at 88.75 Friday compared to 89.08 at close of Indian Market Thursday.
Sensex provisionally ends 83991 points, or 2.3 percent, lower at 35,066 points; Nifty loses 256.30 points to end at 10,760.60.
INTERNATIONAL
Stocks fell in Asia with markets cautious on rising US Treasury yields and ahead of US nonfarm payrolls data for clues on the path of Fed rate hikes in 2018.
Japan's financial regulator said it had ordered all cyrptocurrency exchanges to submit a report on their system risk management, following the hacking of over half a billion dollars of digital money from Coincheck.
Gold prices gained in Asia with the market awaiting nonfarm payroll figures for further clues on the likely path of Fed rate hikes this year.
Cnooc Ltd. plans to raise capital spending to the highest since 2014 and revised upward its oil and gas output targets as China’s biggest offshore producer recovers from crude’s crash.
Crude oil prices gained in Asia as US rig count figures are ahead with estimates for a dip to 758 from 759 with the market overall upbeat about the supply and demand picture even with spring refinery maintenance season ahead.