Key Points
MUMBAI: The rupee consolidated in a narrow range and settled 6 paise lower at 83.28 (provisional) against the US. dollar. on Friday, as sustained foreign fund outflows weighed on investor sentiments..
Forex traders said a positive trend in domestic equities supported the local unit at lower levels and restricted the downside...
"The domestic currency, Asia's second best performer this year, continues to be range-bound as risk appetite remains strong on the US Federal Reserve standing pat on interest rates," said..
On the domestic macroeconomic front, the services sector growth in India fell to a seven-month low in October on softer increase in output and new business, amid competitive conditions and price pressures...
The seasonally adjusted S&P Global India Services PMI Business Activity Index fell to 58.4 in October, from a 13-year high of 61 in September, signalling the slowest rate of expansion since March..
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