Currency

Rupee opens marginally higher against dollar

Updated : January 31, 2020 09:12 AM IST

Asian share markets battled to regain their footing on Friday as investors clutched at hopes China could contain the coronavirus.

Oil prices jumped on Friday following sharp losses this week.

The Indian rupee opened Friday's session on a slightly higher note against dollar. The domestic currency started at 71.44 per dollar against Thursday's close of Rs 71.48.

Asian share markets, meanwhile, battled to regain their footing on Friday as investors clutched at hopes China could contain the coronavirus, even as headlines spoke of ever more cases and mounting deaths.

Helping steady the mood were surveys showing Chinese manufacturing activity came in much as expected in January while services actually firmed, though this was likely before the virus took full hold.

Oil prices jumped on Friday following sharp losses this week, as the World Health Organization (WHO) came out against travel and trade restrictions in declaring a global emergency over the spread of the coronavirus that originated in China last year.

Oil prices had fallen nearly 4 percent through Thursday this week - hitting three-months lows - before rebounding on Friday.

Brent crude futures were last seen 90 cents up at $59.19 a barrel.

(With inputs from Reuters)

Rupee opens marginally higher against dollar

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