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The dollar index tracks the US dollar's strength relative to other rich world currencies. Click to read why the dollar is unlikely to lose its role anytime soon. ....
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MUMBAI: The rupee weakened further by 6 paise to close at 74.94 (provisional) against the US dollar on Thursday as a persistent rise in Covid-19 cases and enhanced restrictions imposed by a number of states weighed on investor sentiment. At the interbank forex market, the local unit opened at 75.25 against the greenback and traded in the range of 74.82 to 75.26 during the day. The rupee finally ended at 74.94 against the American currency, registering a fall of 6 paise over its previous close. On Tuesday, the rupee had settled at 74.88 against the American currency. Forex and equity markets were closed on Wednesday on account of Ram Navami . ....
MUMBAI: The rupee opened on a weak note and fell below the 75 per US dollar level in early trade on Thursday as investors fretted over the prospects of stricter lockdown in some parts of the country amid a surge in Covid-19 cases. Moreover, foreign fund outflows, and heavy selling in domestic equities weighed on the domestic currency. At the interbank foreign exchange, the rupee opened at 75.25 then lost further ground and fell to 75.26 against the US dollar, showing a decline of 38 paise over its previous closing. The Indian rupee on Tuesday had closed at 74.88 against the US dollar. Meanwhile, the dollar index, which gauges the greenback s strength against a basket of six currencies, fell 0.04 per cent to 91.12. ....
MUMBAI: The rupee pared its initial gains to close marginally down by 1 paisa at 74.88 against the US dollar on Tuesday due to worries that the alarming surge in Covid-19 cases could derail the economic recovery in the country. At the interbank forex market, the domestic unit opened at 74.65 against the US dollar, but lost ground to close at 74.88 against the US dollar. During the session, the local unit witnessed an intra-day high of 74.64 and a low of 74.98 against the greenback. Meanwhile, the dollar index, which gauges the greenback s strength against a basket of six currencies, fell 0.04 per cent to 91.03. Traders said the local unit ended in the red as investors were concerned that the surge in coronavirus infections could result in stricter lockdowns, which in turn could hamper the country s economic recovery. ....