Market News
Rupee slips but state-run banks' dollar sales cushion decline - REUTERS
MUMBAI, Nov 7 (Reuters) - The Indian rupee was on the defensive again on Friday, echoing price action seen during much of the week on tepid risk appetite, while dollar sales from state-run banks helped it hold above its all-time low of 88.80 per dollar.
The rupee weakened 0.1% to 88.6850 as of 10:00 a.m. IST, though on course for a modest weakly gain as the Reserve Bank of India's frequent interventions offered support.
Asian markets were mostly weaker on Friday as well with tech-heavy equity indexes in Japan and Korea on course for their worst weekly drops since March as investors turned wary of the run-up in artificial intelligence stocks.
