Indian rupee recovers 12 paise to close at 74.96 against the US dollar

The rupee ended its two-game losing streak to settle 12 paise higher at 74.96 (tentative) against the US dollar on Tuesday, following a positive trend in domestic stocks.

In the interbank forex market, the local unit opened at 75.05 against the greenback and saw an intraday high of 74.95 and a low of 75.17 during the day. It ultimately finished at 74.96 against the US dollar.

On Monday, the rupee was down 18 paise to close at 75.08 against the US dollar.

The dollar index, which measures the strength of the greenback against a basket of six currencies, fell 0.01% to 93.80.

On the national stock market front, the BSE Sensex finished 383.21 points or 0.63% higher to 61,350.26, while the broader NSE Nifty index rose 143 points or 0.79 % to close at 18,268.40.

Futures on Brent crude, the world’s benchmark for oil, fell 0.40% to $ 85.65 a barrel.

Foreign institutional investors were net sellers in the capital market on Monday as they dumped shares worth Rs 2,459.10 crore, exchange data showed.

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

Dear reader,

Business Standard has always strived to provide up-to-date information and commentary on developments that matter to you and have broader political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering has only strengthened our resolve and commitment to these ideals. Even in these difficult times resulting from Covid-19, we remain committed to keeping you informed and updated with credible news, authoritative views and cutting edge commentary on relevant current issues.
However, we have a demand.

As we fight the economic impact of the pandemic, we need your support even more so that we can continue to provide you with more quality content. Our subscription model has received an encouraging response from many of you who have subscribed to our online content. More subscriptions to our online content can only help us achieve the goals of providing you with even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practice the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital editor

Source link

Comments are closed.