Markets

Rupee rises 8 paise against U.S. dollar

Image for representational purposes only. File

Image for representational purposes only. File   | Photo Credit: PTI

At the interbank foreign exchange market, the rupee started on a weak note at 71.45 against the U.S. dollar

The Indian rupee appreciated by 8 paise to settle at 71.29 against the U.S. dollar on Monday, helped by some moderation in global crude prices.

However, stronger U.S. dollar against key rival currencies and subdued domestic equities kept the rupee’s rise in check, according to forex dealers.

At the interbank foreign exchange market, the rupee started on a weak note at 71.45 against the U.S. dollar. During the session, it swung between a low of 71.48 and a high of 71.24.

The domestic unit settled at 71.29 (provisional) against the greenback, registering a rise of 8 paise over its previous close.

On the equity front, the BSE Sensex closed 202.05 points, or 0.49%, down at 41,055.69. The NSE barometer Nifty fell 67.75 points or 0.56% to close at 12,045.80.

The dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.02% to 99.14.

Global crude benchmark Brent was quoted trading at $57.22 per barrel, down 0.17%.

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Printable version | Mar 29, 2020 3:28:14 PM | https://www.thehindu.com/business/markets/rupee-rises-8-paise-against-us-dollar/article30842683.ece

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