Rupee rises for second day against US dollar

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  • Domestic bourses were mostly higher in afternoon trade
  • The rupee is down about 7% against US dollar so far this year

The Indian rupee today moved higher against the US dollar for the second day amid volatility in domestic equities and some weakening in the greenback. Opening at 76.31, the rupee moved to 76.12 at day’s high. The rupee settled at 76.18 per dollar, as compared to the previous close of 76.24 per USD.




Against key rivals, the U.S. dollar edged lower, with the dollar index now at 99.91, down 0.12%.

In India, the death toll due to COVID-19 rose to 934 and the number of cases climbed to 29,435 in the country on Tuesday, according to the Union Health Ministry.

Meanwhile, the number of cases around the world linked to the disease has crossed over 30 lakh and the death toll has topped 2 lakh.

Domestic bourses were mostly higher in afternoon trade, with Sensex trading about 200 points higher.

Foreign institutional investors remained net sellers in the capital market, as they sold equity shares worth ₹916.42 crore on Monday, according to provisional exchange data. The rupee is down about 7% against US dollar so far this year.



“Today is the USD-INR April contract expiry on exchange. This April contract had been trading 40p above OTC and though a lot of longs have been rolled over, the Open Interest in the April contract is still USD 2 bn. We may see buying at RBI fix today in OTC as positions get squared off on exchange,” said Abhishek Goenka, Founder and CEO, IFA Global.

The post Rupee rises for second day against US dollar appeared first on informalnewz.



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