Markets

Rupee slips 8 paise to settle at 73.55 against U.S. dollar

Image for representational purpose only.   | Photo Credit: V.V. Krishnan

The rupee ended 8 paise lower at 73.55 (provisional) against the U.S. dollar on Monday, weighed down by a spike in global crude oil prices and strengthening American currency.

At the interbank forex market, the local unit opened at 73.76 against the greenback and witnessed an intra-day high of 73.19 and a low of 73.76.

It finally ended at 73.55 against the American currency, registering a fall of 8 paise over its previous closing.

On Friday, the rupee had settled at 73.47 against the American currency.

The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.22% to 91.07.

Meanwhile, Brent crude futures, the global oil benchmark, rose 1.69% to $65.51 per barrel.

On the domestic equity market front, the BSE Sensex ended 749.85 points or 1.53% higher at 49,849.84, while the broader NSE Nifty advanced 232.40 points or 1.6% to 14,761.55.

Foreign institutional investors were net sellers in the capital market as they offloaded shares worth ₹8,295.17 crore on Friday, according to exchange data.

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Printable version | Apr 19, 2021 7:08:22 PM | https://www.thehindu.com/business/markets/rupee-slips-8-paise-to-settle-at-7355-against-us-dollar/article33962392.ece

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