Markets

Rupee rises 7 paise to 73.84 against US dollar in early trade

The Indian rupee opened on a flat note and advanced by 7 paise to 73.84 against the US dollar in opening trade on Thursday amid a lacklustre trend in the domestic equity market.

At the interbank forex market, the local unit opened at 73.87 against the US dollar, then inched higher to 73.84, reflecting a rise of 7 paise over its last close. The local unit also touched a low of 73.98 in initial deals.

On Wednesday, the rupee had settled at 73.91 against the American currency.

The Indian Rupee started on a flat note against the dollar on Thursday amid a decline in most Asian shares, Reliance Securities said in a research note.

The dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.01 % to 91.31.

"The US Dollar Index was flat this Thursday morning in Asian trade consolidating ahead of a key US jobs report that may provide clues on when the Federal Reserve will dial back monetary stimulus," the note said.

Global oil benchmark Brent crude futures rose 0.20 % to USD 69.10 per barrel.

On the domestic equity market front, BSE Sensex was trading 14.74 points or 0.03 % lower at 48,662.81 while the broader NSE Nifty rose 6.75 points or 0.05 % to 14,624.60.

Foreign institutional investors were net sellers in the capital market on Wednesday as they sold shares worth ₹ 1,110.50 crore, as per exchange data.


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Printable version | Jun 24, 2021 3:54:44 AM | https://www.thehindu.com/business/markets/rupee-rises-7-paise-to-7384-against-us-dollar-in-early-trade/article34496166.ece

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