Rupee surges 18 paise to 72.42 against USD in early trade
PTI
Mumbai |
Updated on
RBI to release reserves data after market hours The Indian rupee strengthened by 18 paise to 72.42 against the US dollar in early trade on Friday tracking positive domestic equities. At the interbank foreign exchange, the domestic unit opened at 72.46 against the dollar, then inched higher to 72.42, registering a gain of 18 paise over its previous close. On Thursday, the rupee had settled at 72.60 against the US dollar. Most Asian currencies have started flat to marginally stronger against the US dollar this Friday, Reliance Securities said in a research note.
Rupee surges 14 paise to 74.59 against USD in early trade
PTI
Mumbai |
Updated on
On Monday, the rupee had settled at 74.73 against USD The Indian rupee appreciated by 14 paise to 74.59 against the US dollar in opening trade on Tuesday, supported by positive domestic equities. At the interbank forex market, the local unit opened at 74.65 against the US dollar and then inched higher to 74.59 against the greenback, registering a rise of 14 paise over its previous close. On Monday, the rupee had settled at 74.73 against the American currency. . the USD-INR Spot pair has consolidated in a narrow range where it is reluctant to cross above 75.00 levels and now could retest 74.65-74.50 levels. Resistance is at 74.85-75.00 levels. The USD-INR spot pair could trade in a range of 74.60-74.90 levels, Reliance Securities said in a research note.
The drop came after foreign funds were forced to sell in the domestic market as rising Covid cases triggered fears about further delay in India’s economic recovery. (Representative image)
MUMBAI: The rupee suffered from some sharp weakness on Monday, ending below the 75-to-the-dollar mark for the first time in eight months.
The drop came after foreign funds were forced to sell in the domestic market as rising Covid cases triggered fears about further delay in India’s economic recovery. At close, the rupee was at 75.06 to a dollar weaker by 32 paise from its Friday close of 74.74.
According to Reliance Securities senior research analyst Sriram Iyer, in addition to the market’s fears about a further setback to the economic recovery process, “the likelihood of higher retail inflation also weighed on sentiments”.