Rupee Vs Dollar Today: Rupee settled at 72.72 against the American currency
The rupee gained 65 paise against the US dollar on Wednesday, March 3, to settle at 72.72 (provisional) tracking positive domestic equities led by Reliance Industries, and weakness in the American dollar. At the interbank foreign exchange market, the domestic unit opened at 73.26 against the dollar and registered an intra-day high of 72.71. It witnessed a low of 73.26. In an early trade session, the local unit gained 22 paise to 73.15 against the greenback. The rupee settled at 72.72 against the American currency, witnessing a rise of 65 paise over its previous closing. On Tuesday, March 2, the local unit had settled at 73.37 against the dollar.
Gold prices hit eight-month low - Should you invest now?
Most industry experts expect a further fall in the gold price. With yields rising and technical levels under fire, the fall in gold prices may continue, they say. Some even expect the prices to fall to Rs 43,000 levels
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After a huge rally last year, gold prices have softened to Rs 45,980 per 10 gram on Friday, to hit its eight-month low. The prices of the yellow metal have fallen by over Rs 10,000 or 18% from the highs of Rs 56,200 per 10 gramme in August 2020. Year to date, gold prices are down by about 8% this year. The rise in the US Treasury yield and stronger dollar, optimism of a larger economic stimulus package, and the vaccination drive have led to downside pressure on gold prices.
The domestic unit finally ended 9 paise higher at 72.65 against the US dollar. On Wednesday, the rupee had settled at 72.74 against the American currency