Forex

Rupee opens on flat note, rises 5 paise to 73.26 against US dollar in early trade

PTI Mumbai | Updated on June 16, 2021

Investors await US Fed meeting outcome for further cues

The Indian rupee opened on a flat note and inched higher by 5 paise to 73.26 against the US dollar in early trade on Wednesday ahead of the US Federal Reserve meeting outcome.

At the interbank foreign exchange, the domestic unit opened at 73.29 against the dollar, then inched higher to quote 73.26, a rise of 5 paise over its previous close of 73.31 on Tuesday.

Also read: Thomas Cook India's new online forex platform gets 800 partners

The Indian rupee started on a flat note this Wednesday against the greenback as investors await the important Fed meeting outcome for further cues, Reliance Securities said in a research note.

“Asian currencies have started weaker against the greenback this Wednesday morning and will weigh on sentiments. Additionally, investors will be wary of rising crude oil prices as well,” the note added.

Dollar index

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.03 to 90.50.

Global oil benchmark Brent crude futures rose 0.88 to $74.64 per barrel.

On the domestic equity market front, the BSE Sensex was trading 160.88 points or 0.30 per cent lower at 52,612.17, while the broader NSE Nifty fell 64.65 points or 0.41 per cent to 15,804.60.

Foreign institutional investors were net buyers in the capital market on Tuesday as they purchased shares worth ₹633.69 crore, as per exchange data.

Published on June 16, 2021

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor