Categories: Business

Rupee ends 6 paise lower at 74.82 per dollar

Photo: GOOGLE

Rupee vs dollar

new Delhi. The rupee has weakened against the dollar in Wednesday's trade. On Tuesday itself, the rupee closed with a strength of 12 paise. Due to the uncertainty in the domestic economy over the Corona crisis, the rupee has slipped against the dollar amid the rise in the stock market. The exchange rate of the rupee fell six paise to close at 74.82 per dollar on Wednesday amid fluctuations in the foreign exchange market. In the beginning of the business, the rupee was strengthened. The rupee opened strong at 74.71 against the US dollar in the inter-bank foreign exchange market. At the same time, the rupee strengthened to 74.67 level at one time during the trade, but this rally could not be sustained. The exchange rate of the local currency slipped to 74.93 at one time amid pressure. Which was 17 paise weaker than the previous closing level. However, there was a recovery later and in the end the rupee weakened 6 paise per dollar to close at 74.82. The rupee had closed at 74.76 against the dollar on Tuesday.

Based on today's closing price, the rupee has depreciated by about 5 percent compared to the beginning of 2020. However, the rupee is currently up 2.7 percent from its record lows in April. On the other hand, the index showing the performance of the dollar fell 0.04 percent to 92.23 against the world's 6 biggest currencies. As per preliminary data, foreign institutional investors made net purchases of Rs 1,134.57 crore in the shares on Tuesday. Brent crude oil slipped 0.92 percent to $ 45.04 per barrel in the futures market.

This post was published on August 20, 2020 2:09 am

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