Advertisement
Thursday, Aug 18, 2022
Outlook.com
Outlook.com

Rupee Gains 18 Paise To 74.43 Against US Dollar In Early Trade

The domestic unit opened at 74.46 against the dollar, then inched higher to 74.43, registering a gain of 18 paise over its previous close

Rupee Gains 18 Paise To 74.43 Against US Dollar In Early Trade
BSE Sensex was trading 572.74 points, while the broader NSE Nifty advanced 161.45 points | Representational Image
Rupee Gains 18 Paise To 74.43 Against US Dollar In Early Trade
outlookindia.com
2021-07-22T11:46:24+05:30

The Indian rupee strengthened by 18 paise to 74.43 against the US dollar in early trade on Thursday, tracking positive domestic equities.

At the interbank foreign exchange, the domestic unit opened at 74.46 against the dollar, then inched higher to 74.43, registering a gain of 18 paise over its previous close.

On Tuesday, the rupee had settled at 74.61 against the US dollar.

Forex market was closed on Wednesday on account of 'Bakri Id'.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.01 per cent up at 92.76.

The rupee opened stronger on Thursday as the dollar eased and risk appetite improved, Reliance Securities said in a research note.

The recovery in US equities suggests that investors believe that the economic impact of the coronavirus is likely to be quite limited.

Furthermore, expectations are that the increase in infection is likely to make the Federal Reserve all the more wary of removing its accommodation, the note added.

On the domestic equity market front, BSE Sensex was trading 572.74 points or 1.10 per cent higher at 52,771.25, while the broader NSE Nifty advanced 161.45 points or 1.03 per cent to 15,793.55.

Meanwhile, foreign institutional investors were net sellers in the capital market on Tuesday as they offloaded shares worth Rs 2,834.96 crore, as per exchange data.

Global oil benchmark Brent crude futures declined 0.42 per cent to USD 71.93 per barrel.

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