Advertisement
Saturday, May 28, 2022
Outlook.com
Outlook.com

Rupee Gains 13 Paise Against US Dollar In Early Trade

At the interbank foreign exchange, the rupee opened strong at 74.27 against the dollar, then lost some ground to quote 74.26, registering a rise of 13 paise over its previous close.

Rupee Gains 13 Paise Against US Dollar In Early Trade
Global oil benchmark Brent crude futures surged 1.93 per cent to USD 66.44 per barrel.
Rupee Gains 13 Paise Against US Dollar In Early Trade
outlookindia.com
2021-08-23T10:44:46+05:30

The rupee appreciated 13 paise to 74.26 against the US dollar in opening trade on Monday, tracking a strong rally in the domestic equities and weak American currency overseas.

However, rising crude prices in the international market and foreign fund outflows capped the rupee gains, forex traders said.

At the interbank foreign exchange, the rupee opened strong at 74.27 against the dollar, then lost some ground to quote 74.26, registering a rise of 13 paise over its previous close.

On Friday, the rupee had settled at 74.39 against the US dollar.

On the domestic equity market front, BSE Sensex was trading 245.07 points or 0.44 per cent higher at 55,574.39, while the broader NSE Nifty rose 52.60 points or 0.32 per cent to 16,503.10.

The US dollar was struggling against its major rivals in the overseas market.

The dollar index, which gauges the greenback's strength against a basket of six currencies, slipped 0.20 per cent to 93.30.

Global oil benchmark Brent crude futures surged 1.93 per cent to USD 66.44 per barrel.

Meanwhile, foreign institutional investors were net sellers in the capital market on Friday as they offloaded shares worth Rs 2,287.03 crore, as per exchange data.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement