Comments
The rupee pared its initial gains and settled 5 paise lower at 73.36 (provisional) against the US dollar on Thursday tracking heavy selling in domestic equities and strengthening American currency.
At the interbank forex market, the rupee opened at 73.32 against the greenback, and after witnessing a volatile trading session closed at 73.36, lower by 5 paise from its previous close of 73.31.
During the session, the rupee witnessed an intra-day high of 73.22 and a low of 73.41 against the US dollar.
Forex traders said rising COVID-19 cases and uncertainty over US stimulus affected investor sentiment.
Further, strengthening American currency and heavy selling in domestic equities also weighed on the domestic currency.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.34 per cent to 93.69.
Brent crude futures, the global oil benchmark, fell 1.27 per cent to $42.77 per barrel.
Comments
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.