Rupee settles on flat note, up 2 paise at 74.62 against USD

The rupee settled on a flat note at 74.62 against the US dollar on Friday as importers and banks’ demand for the greenback continued to exert pressure on the Indian currency.

At the interbank forex market, the domestic unit opened at 74.63 a dollar and witnessed an intra-day high of 74.47 and a low of 74.71.

The local unit finally closed at 74.62 against the American currency, registering a rise of 2 paise over its previous close.

On Thursday, the Indian rupee settled at 74.64 against the US dollar.

The rupee was trading in a narrow range on Friday considering the weak demand for riskier assets on the occasion of Dhanteras, Ankit Agarwal Managing Director, Alankit Limited, said.

“The rapidly rising COVID-19 cases in the US overshadowed the optimism on a COVID vaccine that had supported sentiment earlier this week. It is expected that the Indian currency may weigh down by dollar purchases to be made by the Reserve Bank of India, ”Mr. Agarwal added.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was down 0.15% to 92.82.

On the domestic equity market front, the BSE Sensex ended 85.81 points or 0.20% higher at 43,443, while the broader NSE Nifty rose 29.15 points or 0.23% to 12,719.95.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth ₹ 1,514.12 crore on a net basis on Thursday, according to exchange data.

Brent crude futures, the global oil benchmark, fell 0.60% to USD 43.27 per barrel.

.

Disclaimer: This post has not been edited by our staff and is published from a syndicated feed. The Original Source of this post can be found at Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest

Paava Kadhaigal trailer: Netflix’s Tamil anthology starring Kalki Koechlin, Prakash Raj promises four hard-hitting stories

The trailer of Netflix’s upcoming Tamil anthology film Paava Kadhaigal, which brings together filmmakers such as Sudha Kongara, Gautham...

Coronavirus live updates | No night curfew in Delhi for now,...

Britain is set to deploy an approved Pfizer/BioNTech COVID-19 vaccine next week, confirmed Prime Minister Boris Johnson on Wednesday. This makes it the West's...

Prepared to face China, Covid-19, says Navy chief Karambir Singh

China’s attempts to change the status quo on the Line of Actual Control (LAC) and the Covid-19 pandemic complicated the security situation, with the...

Parkash Singh Badal returns Padam Vibhushan in protest against ‘betrayal of...

In a letter to the President, the former Punjab CM speaks of ‘shocking indifference and contempt with which the government is treating the ongoing...

More Articles