Categories: Business

Rupee ends 8 paise lower at 74.83 per dollar


Rupees vs dollar

new Delhi. On Friday, the rupee has lost eight paise to close at 74.83 against the dollar, due to a weak trend in the domestic stock market and rising tensions between the US and China. In the last trading session of the week, the rupee opened at the level of 74.94 against the dollar on the interbank foreign exchange market. However, there was a recovery in the rupee along with the business and at the end of the trade it dropped by eight paise to close at 74.83 per dollar. During Thursday's trade, the rupee had closed at the level of 74.75 per dollar.

The rupee touched a day high of 74.80 and a day's low of 74.98 against the dollar during today's trade. At the end of trading, the rupee closed near the day's high. According to currency traders, concern about rising tensions between the US and China led to the fall in local currency. China on Friday ordered the US to close its consulate in Chengdu. Earlier, the US ordered the closure of the Chinese mission in Houston. In response, China has taken this step. Meanwhile, the dollar index rose 0.04 percent to 94.72. This reflects the dollar's stance against the six big foreign currencies.

This post was published on July 24, 2020 4:51 pm

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