Categories: Business

Rupee ends 3 paise higher at 74.81 per dollar


Rupee Vs Dollar

New Delhi: The rupee gained three paise to close at 74.81 per dollar on Friday. This strength in the rupee has been recorded due to weakness in the dollar. At the beginning of today's trading in the interbank foreign currency exchange market, the rupee had a strong trend and the rupee opened stronger at 74.74 against the dollar. During the day trading, the rupee saw a turnover in the range of 22 paise. During this time the rupee rose to a high of 74.68 per dollar. It also touched a low of 74.90 per dollar amid declining trend. At the end of trading, the rupee gained three paise to close at 74.81 per dollar. The rupee had closed at 74.84 per dollar in the previous session.

Meanwhile, the dollar index, showing the dollar's position against the six currencies, declined by 0.22 percent to 92.81. Traders said the dollar weakened due to weak economic data. This strengthened the perception of rupee. The US economy declined at a record 32.9 percent annual rate in the last quarter. Along with this, the Federal Reserve has also predicted further pressure in the economy, due to which the dollar is seeing weakness.

This post was published on July 31, 2020 6:41 pm

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