Rupee slips 22 paise to 71.40 against USD

Rupee slips 22 paise to 71.40 against USD

The rupee declined by 22 paise to settle at 71.40 against the US dollar on Friday amid selling in domestic equities and strengthening of the American currency overseas. Forex traders said the rupee traded weak largely owing to strengthening of the US dollar ahead of the non-farm payrolls number scheduled to be released later in the day.

At the interbank foreign exchange market, the local currency opened on a weak note at 71.26.

During the day, the local unit lost further ground and touched a low of 71.49, before finally settling for the day at 71.40 against the US dollar, down 22 paise over its previous close.