Categories: Business

Rupee ends 12 paise higher at 74.76 per dollar

Photo: GOOGLE

Rupee Vs dollar

new Delhi. The Indian rupee closed strongly on Tuesday against the dollar on the back of weakness in the dollar and the rise in the domestic stock market. The rupee strengthened 12 paise to close at 74.76 against the dollar in today's trade in the interbank foreign exchange market due to improved sentiments among investors following better signals. The rupee had a strong upside with early trading. During the trading, it saw a turnover in the range of 16 paise, most of the time the rupee remained firmly above its previous closing level.

At the start of today's trading, the rupee opened at a level of 74.78 with a strength of 10 paise against the dollar. During the trading session, the rupee touched a day high of 74.73 and a day's low of Rs 74.89. At the end of trading, the rupee closed at 74.76 per dollar, up 12 paise against the dollar. Its previous closing price was Rs 74.88 per dollar. Based on today's closing price, the rupee has recovered 2.8 percent from its record lows in April. However, it still remains 4.76 per cent lower than the beginning of 2020.

According to market experts, the rupee was supported by a firming trend in the stock markets, weak US currency and continued foreign exchange arrivals, although the rupee remained in a strong range due to concerns over rising cases of Kovid-19. Today, the 30-share Sensex of BSE was trading at 38,501.40 points with a gain of 450.62 points. At the same time, new cases of corona wire infections in India continue to be above the level of 50 thousand. On the other hand, the dollar is under pressure due to fears of a delay in the US relief package.

This post was published on August 18, 2020 6:09 pm

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