Rupee drops 15 paise to close at 74.39 against US dollar


Mumbai: The rupee Friday declined by 15 paise to close at 74.39 (provisional) against the US currency, tracking a lacklustre trend in the domestic equities and strengthening of the American currency in the overseas market.

At the interbank foreign exchange market, the domestic currency opened lower at 74.38 against the American currency and finally settled at 74.39.

- Advertisement -

During the session, the local unit touched an intra-day high of 74.38 and a low of 74.47 against the US currency.

On Wednesday, the rupee had settled at 74.24 against the US dollar. The forex market was closed Thursday on account of ‘Muharram’.

- Advertisement -

“Indian rupee marked the biggest weekly loss in six weeks and remained the worst performer among Asian peers in today’s session,” said Dilip Parmar, Research Analyst, HDFC Securities.

Parmar further noted that “heavy buying in the dollar has been seen as risk sentiment deteriorates amid concern that the Delta virus strain could derail the global recovery and the US Federal Reserves may start tapering earlier than expected”.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.09 per cent higher at 93.65.

- Advertisement -

Brent crude futures, the global oil benchmark, fell 0.59 per cent to USD 66.06 per barrel.

On the domestic equity market front, the BSE Sensex ended 300.17 points or 0.54 per cent lower at 55,329.32, while the broader NSE Nifty declined 118.35 points or 0.71 per cent to 16,450.50.

Meanwhile, foreign institutional investors were net sellers in the capital market on Wednesday as they offloaded shares worth Rs 595.32 crore, as per exchange data.


Source Link

- Advertisement -

Share

Latest Updates

More Jon Gruden Email Released, Shows Him Calling Out Colin Kaepernick – Deadline

Colin Kaepernick should have been cut for kneeling during the national anthem, according to a newly uncovered email exchange between former Las Vegas...

$590 Million Ransomware Payments Reported To US In 2021 As Attacks Spike

<!-- -->Data showed $590 million ransomware payments were reported to US authorities. (Representational)Washington: New data out Friday showed $590 million in ransomware-related payments...

Writers Instructed To Take Own Notes, Showrunners To Distribute Scripts In Event Of IATSE Strike – Deadline

While there are encouraging signs that an IATSE strike could be avoided with a last-minute deal made before the midnight on Sunday deadline,...

Trending News

More Jon Gruden Email Released, Shows Him Calling Out Colin Kaepernick – Deadline

Colin Kaepernick should have been cut for kneeling during the national anthem, according to a newly uncovered email exchange between former Las Vegas...

$590 Million Ransomware Payments Reported To US In 2021 As Attacks Spike

<!-- -->Data showed $590 million ransomware payments were reported to US authorities. (Representational)Washington: New data out Friday showed $590 million in ransomware-related payments...

Writers Instructed To Take Own Notes, Showrunners To Distribute Scripts In Event Of IATSE Strike – Deadline

While there are encouraging signs that an IATSE strike could be avoided with a last-minute deal made before the midnight on Sunday deadline,...

China Rocket Blasts Off For Longest Crewed Mission To Space Station

<!-- -->China launched a rocket carrying three astronauts to its new space stationBeijing: China on Saturday launched a rocket carrying three astronauts to...

British Police Call Killing Of UK MP David Amess “Terrorist Incident”

<!-- -->UK MP Stabbing: UK MP David Amess represented Southend West in Essex in eastern England.London: The fatal stabbing of Conservative lawmaker David...

‘Mayor Pete’ Documentary On Pete Buttigieg Opens NewFest LGBTQ+ Fest – Deadline

NewFest, New York’s LGBTQ+ film festival, kicks off tonight with one of the most prominent documentaries of the fall. Mayor Pete, directed by Jesse...