Markets

Rupee settles flat at 75.19 against U.S. dollar

Representational image.

Representational image.   | Photo Credit: S.R. Raghunathan

The rupee settled on a flat note at 75.19 (provisional) against the U.S. dollar on July 13 amid high volatility in the domestic equity market.

The rupee, which opened at 75.20 against the U.S. dollar, closed at 75.19 against the U.S. dollar, up by just 1 paisa over its previous close.

It had settled at 75.20 against the greenback on July 10.

During the four-hour trading session, the domestic unit witnessed an intra-day high of 75.08 and a low of 75.21 against the U.S. dollar.

Forex traders said the rupee traded in a range-bound manner tracking high volatility in domestic equities. Moreover, investors awaited cues from Consumer Price Index (CPI) data expected to be released later in the day.

While weak U.S. currency supported the local unit, foreign fund outflows and concerns over rising COVID-19 cases weighed on investor sentiment, traders said.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.03% to 96.62.

The 30-share BSE benchmark Sensex was trading 34.01 points higher at 36,628.34 and broader NSE Nifty was up 13.30 points to 10,781.35.

Foreign institutional investors were net sellers in the capital market as they sold shares worth ₹1,031 crore on July 10, according to provisional exchange data.

Brent crude futures, the global oil benchmark, fell 1.25 per cent to USD 42.70 per barrel.

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Printable version | Aug 15, 2020 7:54:41 PM | https://www.thehindu.com/business/markets/rupee-settles-flat-at-7519-against-us-dollar/article32066989.ece

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