new Delhi. The rupee strengthened 11 paise to close at 74.91 against the dollar on Monday due to positive trend in domestic stock market and weakness in US currency. The rupee opened at 74.92 against the dollar in the interbank foreign exchange market, and touched a high of 74.89 and a low of 75.03 during day trading. The rupee finally closed at 74.91 against the US currency, 11 paise stronger than the previous close. The rupee had closed at 75.02 against the US dollar on Friday.
Forex traders said a positive opening in the domestic stock market, weakness in the US currency and the arrival of foreign currency gave the rupee a boost. He added that there is also pressure on local currency due to increasing cases of Kovid-19 infection. The dollar index, showing the position of the US currency against the six major currencies, fell 0.13 to 95.81.
Foreign institutional investors were net buyers in the capital market on Friday and bought shares worth Rs 697 crore, according to stock market data. Meanwhile, Brent crude oil fell 0.60 percent to US $ 42.88 per barrel. Covid-19 infection cases have increased to more than 16.5 million worldwide and more than 6.06 lakh people have died so far. According to the Ministry of Health in India, the number of people infected with this disease has crossed 11 lakhs and so far more than 27 thousand people have died.
This post was published on July 20, 2020 4:52 pm
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