Rupee gained 6 paise to close at 93.49 against US dollar – Business News

Rupee gained 6 paise to close at 93.49 against US dollar – Business News

On Monday, the rupee ise fell against the US dollar to close at 3.49 (provisional) with a fall of money, showing weakness in the US currency and a decline in positive domestic equities.

Traders said continued foreign fund flows also supported the rupee.

In the interbank foreign exchange market, the domestic unit opened at 73.52 against the US dollar and saw an intra-day high of 73.47 and a low of 73.61.

The local unit eventually came up against the US currency at 73.49, registering an increase of 6 paise from its previous close.

The rupee had closed at 73.55 against the US dollar on Thursday.

The forex and equity markets were closed on Friday for Christmas.

Meanwhile, the Dollar Index, which estimates the strength of the greenback against a basket of six currencies, slipped 0.25 percent to 89.99.

On the domestic equity market front, the BSE Sensex rose 380.21 points or 0.81 percent to close at 47,353.75, while the broader NSE Nifty rose 123.95 points or 0.9 percent to 13,873.20 points.

The Indian rupee appreciated on the weakness in the dollar and the rise in the stock markets. BNP Paribas said that US President Donald Trump signed the USD 2.3 trillion Coronavirus Relief Assistance and Spending Package as a US Trump Coronovirus Relief Assistance and Spending Package and said the Security Trade Analyst, Sharekhan.

However, sharp gains were halted amid concerns over growing coronavirus cases around the world and with the emergence of a new strain of Kovid-19 in the UK, added to the lawsuit.

Traders fear that strict restrictions on social and business activity will hamper the global economic recovery.

According to provisional exchange data, foreign institutional investors were net buyers in the capital market as they bought shares worth Rs 1,225.69 crore on a net basis on Thursday.

Global oil benchmark Brent crude futures rose 1.31 percent to $ 51.96 a barrel.


Leave a Reply

Your email address will not be published. Required fields are marked *