RUPEE ERASES LOSSES TO SETTLE HIGHER AT 72.97 AGAINST DOLLAR

Rupee appreciated against most of the currency in the basket except EUR. The domestic unit opened lower and traded in the negative territory most part of the session. The rupee clawed back lost ground towards the fag-end of the session and settled with a marginal 2 paise gain at 72.97 against the US dollar on Friday, supported by easing crude oil prices.

On the domestic equity market front, the BSE Sensex tumbled 746.22 points or 1.50 per cent to end at 48,878.54, while the NSE Nifty fell 218.45 points or 1.5 per cent to 14,371.90.

US dollar appreciated against most of the currency in the basket. USD traded up against EUR, JPY, GBP,CAD, SGD, AUD, ZAR etc.