Forex

Rupee drops by 2 paise to 74.42

PTI Mumbai | Updated on July 26, 2021

The rupee traded in a narrow range as investors await cues from the US Fed's policy decision due this week.

The rupee slipped by 2 paise to close at 74.42 (provisional) against the US dollar on Monday, snapping its three-day gaining streak amid a muted trend in domestic equities.

Forex traders said the rupee is trading in a narrow range as investors are awaiting cues from the US Fed's policy decision due this week.

At the interbank foreign exchange market, the local unit opened at 74.43 against the dollar and witnessed an intra-day high of 74.40 and a low of 74.52 during the session.

The local unit finally ended the day at 74.42, down 2 paise over its last close. On Friday, the rupee had settled at 74.40 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.22 per cent to 92.70.

 

 

Published on July 26, 2021

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