Forex

Rupee up 11 paise against US dollar

PTI Mumbai | Updated on September 30, 2020 Published on September 30, 2020

The rupee opened on a flat note and was trading in a narrow range against the US dollar on Wednesday, as investors were cautious after the first US Presidential debate.

At the interbank forex market, the domestic unit opened at 73.81 against the US dollar, then gained ground and touched 73.79 against the American currency. In volatile trade, the local unit also touched 73.86.

At 11.15 am, the rupee was trading at 73.75 against the greenback, amid selling seen in domestic equity market.

On Tuesday, the Indian rupee settled at 73.86 against the US dollar.

Traders said investors were cautious after the first US Presidential debate. Moreover, month-end dollar bids and equity-related outflows would weigh on market sentiments.

During the first of the three presidential debates between President Donald Trump and his Democratic challenger, Joe Biden in Cleveland, Ohio, the two contenders clashed over each other’s personality, past record, family and their visions.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.04 per cent to 93.92.

Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 1,456.66 crore on a net basis on Tuesday, according to exchange data.

Brent crude futures, the global oil benchmark, fell 1.15 per cent to USD 40.56 per barrel.

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Published on September 30, 2020
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