(MENAFN- Khaleej Times) The Indian rupee depreciated 22 paise to 74.36 against the US dollar (20.26 against the UAE dirham) due to a moderate trend in Indian stocks at the opening from the market on Thursday.
In the Indian interbank market, the rupee opened on a low note at 74.28, then fell further to 74.36 against the dollar, recording a decline of 22 paise since the last close.
“While the scarcity of some commodities affects the United States, the United Kingdom and China, its effects can be seen on emerging market currencies and to some extent on equities,” said Anil Kumar Bhansali, head of treasury at Finrex Treasury Advisors.
The dollar index, which measures the strength of the US dollar against a basket of six currencies, fell 0.05% to 94.29.
Bhansali said that “the US dollar has climbed 60 paise in two days and the rupee still seems vulnerable to whims.”
On the Indian stock market front, the 30-stock BSE Sensex was trading at 49.18 points, or 0.08%, at 59,364.09. The broad NSE Nifty was trading at 20.85 points, or 0.12%, at 17,690.45.
(with PTI entries)
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