INR depreciated by 5 paise at early trade on Friday at 59.30 per dollar against aforesaid closing value of 59.25 a dollar.
"Asian markets have opened in red taking cues from US economic data which failed to meet the expectations and also the growing tensions in Iraq have dented the global equities movement," Pramit Brahmbhatt of Veracity told moneycontrol.
"Trading range for spot rupee is expected to be within 58.80-59.80 a dollar,'' he added.
Forex dealers said increasing demand for dollar has put pressure on INR and Asian currencies.
At 10 am, rupee weakened at 59.4750 with 0.37 percent change. While, seven currencies including INR depreciated, rest six currencies witnessed inclination among 13 Asia-Pacific currencies.
Meanwhile, Sensex inclined by 32.25 points at 25,607.77 points and Nifty ascended by 7 points at 7656.15 points. Top gainers from BSE were BHEL, Coal India, M&M, HDFC Bank and Tata Power, and gainers from NSE were BHEL, Ambuja Cements, UltraTech Cement, Coal India and Caim India.
Moreover, one day Reverse Repo Auction rate opened at seven percent. RBI purchased and sold 29 Securities for ₹83.33 billion, at repo auction yesterday evening.
Today, the United States Department of Labour released Producer Price Indexes for May 2014. According to Bureau of Labor Statistics (BLS), the index for final demand services rose 0.6 percent in April following a 0.7 percent advance in March.
This increase is followed a rise of 0.5 percent in March and decline of 0.1 percent in February. On an unadjusted basis, the index for final demand moved up 2.1 percent for the 12 months ended in April, it is the largest 12 –month advance since a 2.4 percent increase in March 2012.
