Friday, July 30, 2021
Home Business Rupee edges up 3 paise to 74.51 against US dollar in early...

Rupee edges up 3 paise to 74.51 against US dollar in early trade


The Indian rupee opened on a flat note and inched higher by 3 paise to 74.51 against the US dollar in early trade on Friday, as investors await fresh triggers.

At the interbank foreign exchange, the domestic unit opened at 74.53 against the dollar, then inched higher to 74.51, registering a gain of just 3 paise over its previous close.

On Thursday, the rupee had settled at 74.54 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, was trading 0.06 per cent down at 92.56.

The Indian rupee opened flat against the US dollar this Friday as investors await fresh triggers, Reliance Securities said in a research note.

Moreover, Asian currencies have started weak and could weigh on sentiments, the note said.

“Technically, the USDINR spot pair supports are at 74.38 and 74.25. Resistances are at 74.60 and 74.75,” it added.

Forex traders said foreign fund outflows and firm crude oil prices could weigh on investor sentiment and cap the appreciation of the local unit.

Foreign institutional investors were net sellers in the capital market on Thursday as they offloaded shares worth Rs 264.77 crore, according to exchange data.

Global oil benchmark Brent crude futures was trading unchanged at $73.47 per barrel.



Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Nooses, Anger and No Answers: Inside the Uproar Over a Future Amazon Site

Representatives for Amazon and the other companies involved say they have done everything they can, delaying construction twice, adding security and cameras at...

Simone Biles and the Unprecedented Olympic Pressure

Olympic athletes are used to pressure. Before every Games, a handful of stars from each country get singled out as medal contenders, their...

Rahul Gandhi writes to FM seeking relief to farmers on repayment of crop loans

Congress leader Rahul Gandhi on Thursday wrote to Finance Minister Nirmala Sitharaman urging her to extend the moratorium on repayment of short-term.crop loans...

Huawei P50 Pro, Huawei P50 With 50-Megapixel Main Cameras Launched

Huawei P50 Pro and Huawei P50 smartphones have been launched in the Chinese market. The two phones sport unique capsule-like rear camera modules....

Recent Comments

Close Bitnami banner
Bitnami