Markets

Rupee settles 6 paise lower at 76.20 against U.S. dollar

A cashier checks Indian rupee notes | File

A cashier checks Indian rupee notes | File   | Photo Credit: REUTERS

It had settled at 76.14 against the greenback on June 18.

The rupee settled 6 paise lower at 76.20 (provisional) against the U.S. dollar on June 19 as strengthening of the U.S. currency and rising COVID-19 cases weighed on investor sentiment.

Forex traders said factors like strengthening U.S. dollar, rising coronavirus cases and border tension between India and China dragged down the local unit, while positive domestic equities and fresh foreign fund inflows supported the rupee and restricted the decline to some extent.

The rupee opened at 76.28 against the U.S. dollar, regained some lost ground and finally settled for the day at 76.20 against the U.S. dollar, down 6 paise over its previous close.

It had settled at 76.14 against the greenback on June 18.

During the four-hour trading session, the domestic unit witnessed an intra-day high of 76.17 and a low of 76.29 against the U.S. dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, rose 0.03% to 97.44.

The 30-share BSE benchmark Sensex was trading 343.30 points higher at 34,551.35 and broader NSE Nifty rose 105.30 points to 10,196.95.

Foreign institutional investors were net buyers in the capital market as they bought shares worth ₹366.57 crore on June18, according to provisional exchange data.

Brent crude futures, the global oil benchmark, rose 2.51% to USD 42.55 per barrel.¼

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Printable version | Jul 11, 2020 8:23:58 PM | https://www.thehindu.com/business/markets/rupee-settles-6-paise-lower-at-7620-against-us-dollar/article31868465.ece

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