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Rupee slips 8 paise to settle at 73.55 against US dollar


Date: 02-03-2021
Subject: Rupee slips 8 paise to settle at 73.55 against US dollar
MUMBAI: The rupee ended 8 paise lower at 73.55 (provisional) against the US dollar NSE 0.23 % on Monday, weighed down by a spike in global crude oil prices and strengthening American currency.

At the interbank forex market, the local unit opened at 73.76 against the greenback and witnessed an intra-day high of 73.19 and a low of 73.76.

It finally ended at 73.55 against the American currency, registering a fall of 8 paise over its previous closing.

On Friday, the rupee had settled at 73.47 against the American currency.

The dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.22 per cent to 91.07.

Meanwhile, Brent crude futures, the global oil benchmark, rose 1.69 per cent to USD 65.51 per barrel.

On the domestic equity market front, the BSE Sensex ended 749.85 points or 1.53 per cent higher at 49,849.84, while the broader NSE Nifty advanced 232.40 points or 1.6 per cent to 14,761.55.

Foreign institutional investors were net sellers in the capital market as they offloaded shares worth Rs 8,295.17 crore on Friday, according to exchange data.

Source:-economictimes.indiatimes.com

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