India News | Rupee Clocks 1st Gain in Four Days, Ends 4 Paise Higher to USD
Get latest articles and stories on India at LatestLY. The rupee snapped its three-session losing streak, edging 4 paise higher at 73.54 against the US dollar on Thursday, aided by dollar selling by exporters.
Mumbai, Oct 22 (PTI) The rupee snapped its three-session losing streak, edging 4 paise higher at 73.54 against the US dollar on Thursday, aided by dollar selling by exporters.
Starting off the session at almost the day's lowest level of 73.77, the domestic currency clawed back its lost territory as trade progressed. Intra-day, it touched a high of 73.53 and low of 73.78.
Also Read | Hajipur Vidhan Sabha Seat in Bihar Assembly Elections 2020: Candidates, MLA, Schedule And Result Date.
Ending its three-day downtrend, the rupee ended at 73.54, a gain of 4 paise over its previous close.
Forex dealers said that a strong dollar against major currencies overseas restricted the rupee's gain to some extent.
Also Read | Sonepur Vidhan Sabha Seat in Bihar Assembly Elections 2020: Candidates, MLA, Schedule And Result Date.
The dollar index, which gauges the greenback's strength against a basket of six currencies, surged 0.13 per cent to 92.73.
"The rupee appreciated for the first time in four sessions against the greenback, as the dollar selling by exporters and speculators outweighed the impact of weak risk appetite in the region,” Sriram Iyer, Senior Research Analyst at Reliance Securities, said.
The dollar index advanced amid the risk-off tone and Asian currencies weakened and kept gains limited for the domestic unit, he added.
Meanwhile, Brent crude futures, the global oil benchmark, fell 0.46 per cent to USD 41.92 per barrel.
On the domestic equity market front, the BSE benchmark Sensex settled 148.82 points lower at 40,558.49; and the NSE Nifty closed 41.20 points down at 11,896.45.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)