Forex

Rupee settles 4 paise higher at 73.02 against US dollar

PTI Mumbai | Updated on September 03, 2021

On a weekly basis, the INR has appreciated by 67 paise against the US dollar.

Indian rupee settled with a marginal gain of 4 paise at 73.02 (provisional) against the US dollar on Friday, even as the domestic equities continued their record-setting spree.

At the interbank forex market, the local unit opened at 73.05 against the greenback and witnessed an intra-day high of 73.01 and a low of 73.15.

It finally ended at 73.02 against the American currency, registering a gain of just 4 paise over its previous close.

On Thursday, the rupee had settled at 73.06 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.01 per cent to 92.23.

"Forex markets trading activities were quiet since last two days as investors looked with some uneasiness ahead today’s US labour market report and long weekend as US market will remain closed on Monday on account of Labour Day," said Dilip Parmar, Research Analyst, HDFC Securities.

Parmar further said that markets followed the path of resistance with higher equities and lower dollar. The rupee marked the second weekly gains on back of stronger inflows and higher equities.

On a weekly basis, the local currency has appreciated by 67 paise against the US dollar.

Published on September 03, 2021

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