Mumbai: The Indian rupee dropped on Friday on outflow concerns from the local stocks, after losses in other regional markets, with the dollar's gains against major currencies weighing on sentiment, but volumes were hit by a strike.
RBI said on Wednesday a planned strike by employees on Friday may disrupt some of its normal work, including the payment and settlement system.
At 9:11 a.m. the partially convertible rupee was at 49.75/80 per dollar, above Thursday's close of 49.62/63.
Most Asian indices were lower on Friday after the Dow Jones closed at six-year lows. The Kospi was down 2.5 per cent, the Hang Seng was down 1.8 per cent.
The yen edged up but stayed in sight of a six-week low against the dollar and a one-month trough versus the euro as investors fretted about Japan's fast-deteriorating economy.
There were no trades as yet in the bond market, likely to be disrupted as the Negotiated Dealing System - Order Matching (NDS-OM) would be shut.
The yield on the most-traded paper, the 8.24 per cent 2018 bond, ended at 6.42 per cent on Thursday, well above Wednesday's close of 6.36 per cent.
