Rupee settles 7 paise higher at 73.38 against US dollar

Rupee settles 7 paise higher at 73.38 against US dollar
At the interbank forex market, the domestic unit opened at 73.43 against the US dollar, and eventually settled for the day at 73.38 against the greenback, registering an increase of seven paise over its previous close.

A customer counts Indian one-hundred rupee banknotes before depositing them in India. (Photographer: Dhiraj Singh/Bloomberg)
The rupee strengthened 7 paise and closed at 73.38 (provisional) against the US dollar on Monday, whilst the domestic equity market traded with significant losses.

At the interbank forex market, the domestic unit opened at 73.43 against the US dollar, and eventually settled for the day at 73.38 against the greenback, registering an increase of seven paise over its previous close.

On Friday, the rupee had settled at 73.45 against the US dollar.

During the session, the local unit witnessed an intra-day high of 73.26 and a coffee of 73.50 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.29 per cent to 93.19.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 629.81 points lower at 38,216.01, and therefore the broader NSE Nifty fell 211.50 points to 11,293.45.

Foreign institutional investors were net buyers within the capital market as they purchased shares worth Rs 205.15 crore on a net basis on Friday, consistent with exchange data.

Brent crude futures, the worldwide oil benchmark, fell 2.04 per cent to USD 42.27 per barrel.

News source

Read more