Rupee ends near day s low at 72.92 per dollar
We expect the Indian rupee to hover in the range of 72.50-73.50 in near term, says Sugandha Sachdeva VP-Metals, Energy & Currency Research, Religare Broking.
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Indian rupee erased most of the intraday gains and ended near the day s low level at 72.92 per dollar, amid profit booking saw in the domestic equity market.
It opened flat at 72.94 per dollar against Monday s close of 72.95 and traded between 72.78-72.94.
At close, the Sensex was down 937.66 points or 1.94% at 47,409.93, and the Nifty was down 271.40 points or 1.91% at 13,967.50. The rupee has managed to hold its fort around the 72.90 to 73 levels, but given the selloff in equities and the likelihood of a rebound in the dollar index, we see the trend tilting slightly towards depreciation going forward. In terms of the global cues, the Federal Reserve’s policy decision this week is not expected to be ultra-dovish. More so, markets will be watching the F
Rupee gains 10 paise to finish at 73.15 against US dollar
At the interbank forex market, the rupee opened at 73.16, and hit an intra-day high of 73.10 and a low of 73.23. PTI
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The rupee gained for the second straight day and closed 10 paise higher at 73.15 (provisional) against the US dollar on Wednesday, supported by sustained foreign fund inflows and weak American currency.
At the interbank forex market, the rupee opened at 73.16, and hit an intra-day high of 73.10 and a low of 73.23. It finally finished at 73.15, higher by 10 paise over its last close.
On Tuesday, the rupee had settled at 73.25 against the American currency.