Categories: Business

Rupee ends 4 paise lower at 74.84 per dollar


Rupee Vs dollar

new Delhi. The weakness in the domestic stock market and the strengthening of the US dollar has led to a slight weakness in the rupee. On Thursday, the rupee fell by four paise to close at 74.84 against the US dollar in the interbank foreign exchange market. In the interbank foreign exchange market, the rupee opened lower at Rs 74.84 per dollar in the morning and during trading it saw a limited range of trading between 74.80 and 74.88 rupees. At the end of trading, the rupee fell four paise to close at 74.84 against the dollar. The rupee had earlier closed at Rs 74.80 on Wednesday.

The weakness in the rupee has been seen due to the rise in the dollar. On Wednesday, the US Federal Reserve has decided to keep interest rates stable, while indicating further steps to take care of the economy, which saw a recovery in the dollar. The dollar index, representing the dollar's performance against 6 major foreign currencies, rose 0.13 percent after the Federal Reserve announced the index to 93.57. . Investors' sentiments were also affected by the pressure in the domestic stock market. According to preliminary data from the stock exchanges, foreign institutional investors sold shares worth Rs 352.62 crore in the capital market on Tuesday. Domestic cues and the dollar strengthened the rupee.

Currently, there is a steady increase in the number of new cases of corona in India and America. New cases of corona in India have crossed the 50 thousand mark per day. However, the number of people recovering from the epidemic is also increasing rapidly.

This post was published on July 30, 2020 5:21 pm

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