Rupee gains 10 paise to close at 74.94 against US dollar - Hindustan Times
close_game
close_game

Rupee gains 10 paise to close at 74.94 against US dollar

Mumbai | ByPress Trust of India| Posted by Susmita Pakrasi
Aug 05, 2020 03:27 PM IST

At the interbank forex market, the domestic unit opened strong at 74.93 against the US dollar, then shuffled between an intra-day high of 74.83 and a low of 74.95 against the US dollar.

The rupee settled with gains of 10 paise at 74.94 (provisional) against the US dollar on Wednesday tracking positive domestic equities and weak American currency.

Forex traders said positive trend in the equity markets, weak American currency and sustained foreign fund inflows supported the rupee.(REUTERS)
Forex traders said positive trend in the equity markets, weak American currency and sustained foreign fund inflows supported the rupee.(REUTERS)

At the interbank forex market, the domestic unit opened strong at 74.93 against the US dollar, then shuffled between an intra-day high of 74.83 and a low of 74.95 against the US dollar.

Hindustan Times - your fastest source for breaking news! Read now.

The domestic unit finally closed at 74.94 against the greenback, registering gains of 10 paise over its previous close of 75.04 against the US dollar.

Forex traders said positive trend in the equity markets, weak American currency and sustained foreign fund inflows supported the rupee.

Meanwhile, the dollar index, which gauges the greenback’s strength against a basket of six currencies, fell 0.19 per cent to 93.20.

On the domestic equity market front, the 30-share BSE benchmark Sensex was trading 16.53 points higher at 37,704.44 and broader NSE Nifty advanced 3.85 points to 11,099.10.

Foreign institutional investors were net buyers in the capital market as they purchased shares worth Rs 703.74 crore on Tuesday, according to provisional exchange data.

Brent crude futures, the global oil benchmark, surged 1.01 per cent to USD 44.88 per barrel, after Lebanon explosion sparked fears of instability.

Unlock a world of Benefits with HT! From insightful newsletters to real-time news alerts and a personalized news feed – it's all here, just a click away!- Login Now!
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
SHARE THIS ARTICLE ON
Share this article
SHARE
Story Saved
Live Score
OPEN APP
Saved Articles
Following
My Reads
Sign out
New Delhi 0C
Friday, March 29, 2024
Start 14 Days Free Trial Subscribe Now
Follow Us On