Rupee settles 4 paise higher at 73.48 against U.S. dollar

September 17, 2021 05:05 pm | Updated 05:05 pm IST - Mumbai

The rupee closed 4 paise higher at 73.48 (provisional) against the U.S. dollar on Friday, tracking the broad weakness of the American currency in the overseas market.

At the interbank forex market, the local unit opened flat at 73.49 against the greenback. During the session, the domestic unit witnessed an intra-day high of 73.42 and a low of 73.55.

In the previous session, the rupee had settled at 73.52 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, fell 0.12 % to 92.82.

"Indian rupee recovered after Thursday's weakness on back of FTSE rebalancing related inflows and weakness in dollar against Asian currencies. Rupee manages to find some ground this week after two weeks high voltage price action," said Dilip Parmar, Research Analyst, HDFC Securities Spot $/INR is expected to consolidate in the range of 73.25 to 73.65 ahead of next week's U.S. Federal Open Market Committee (FOMC) meeting, Parmar added.

Brent crude futures, the global oil benchmark, fell 0.62 % to $ 75.20 per barrel.

On the domestic equity market front, the BSE Sensex ended 125.27 points or 0.21 % lower at 59,015.89, while the broader NSE Nifty declined 44.35 points or 0.25 % to finish at 17,585.15.

Foreign institutional investors were net buyers in the capital market on Thursday as they purchased shares worth ₹ 1,621.88 crore, as per exchange data.

0 / 0
Sign in to unlock member-only benefits!
  • Access 10 free stories every month
  • Save stories to read later
  • Access to comment on every story
  • Sign-up/manage your newsletter subscriptions with a single click
  • Get notified by email for early access to discounts & offers on our products
Sign in

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 The Hindu 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.