Comments
The Indian rupee settled for the day nearly flat at 74.84 (provisional) against the American dollar, lower by just 1 paisa on Tuesday.
At the interbank forex market, the rupee witnessed high volatility and touched an intra-day high of 74.71 and a low of 74.90 against the US dollar.
The rupee which opened at 74.86 against the US dollar finally closed at 74.84 against the US dollar, down by just 1 paisa over its last close of 74.83.
Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose by 0.25 per cent to 93.90.
Forex traders said firm domestic equities and steady crude oil prices supported the local unit, even as foreign fund outflows and rising COVID-19 cases weighed on investor sentiment.
Foreign institutional investors were net sellers in the capital market, as they sold equity shares worth Rs 453.31 crore on Monday, according to provisional exchange data.
Brent crude futures, the global oil benchmark, rose 0.23 per cent to $43.51 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.