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rupee ends 9 paisa up at 74.37 against dollar

Photo:FILE

Rupee gains against dollar

New Delhi. Despite a sluggish trend in the domestic equity markets, the rupee on Tuesday recovered from an early fall against the dollar and closed higher by nine paise at 74.37 per dollar in the foreign exchange market. Market analysts said gains in Asian currencies supported the rupee.

The rupee opened at 74.49 in the interbank foreign exchange market today and then closed at 74.37 per dollar, showing a gain of nine paise against the dollar at the end of trading. The previous closing price of the rupee was Rs 74.46 per dollar. During the trading, the rupee fluctuated in the range of Rs 74.28 to Rs 74.53. That is, the rupee remained in the range of only 25 paise in today’s trade. Gaurang Somaiya, Forex and Bullion Analyst, Motilal Oswal Financial Services, said the rupee depreciated initially amid a firming dollar against major world currencies and weakness in domestic equities. But later the loss of Rs.

Talking about other signs affecting the rupee, the stock market has seen a decline today. The 30-share Sensex of BSE closed at 60,322.37 with a loss of 396.34 points at the end of trading. The dollar index, reflecting the US dollar’s position against the six major currencies, rose 0.12 per cent to 95.52. Meanwhile, global oil benchmark Brent crude futures rose 0.69 per cent to $82.62 per barrel.

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