Comments
Snapping its six-session winning streak, the rupee depreciated by 4 paise to settle at 73.11 against the US dollar on the first trading day of the New Year on Friday.
At the interbank forex market, the domestic unit opened at 73.09 against the US dollar, and witnessed an intra-day high of 73.02 and a low of 73.11.
The local unit finally settled at 73.11, registering a fall of 4 paise over its previous close.
On Thursday, the rupee spurted 24 paise to end at a nearly four-month high of 73.07 against the US dollar.
Forex traders said the momentum for the currency is likely to stay low as no major economic data is expected to be released on the domestic as well as on the global front.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.29 per cent to 89.93.
Brent crude futures, the global oil benchmark, advanced 0.33 per cent to $51.80 per barrel.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.