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Friday, Dec 03, 2021
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Rupee Rose 11 Paise To Close At 74.92 Against Dollar Despite Massive Sell-Offs. Here's Why

The local currency opened at 74.92 against the greenback. It rose to an intra-day high of Rs 74.76 against the dollar and fell to an intra-day low of 74.94 during trade today. Eventually, it ended the day at 74.94 against the dollar on Thursday.

Rupee Rose 11 Paise To Close At 74.92 Against Dollar Despite Massive Sell-Offs. Here's Why
Rupee Rose 11 Paise To Close At 74.92 Against Dollar Despite Massive Sell-Offs. Here's Why
outlookindia.com
2021-10-28T18:22:08+05:30

Rupee rose 11 paise to close at 74.92 against the dollar on Thursday backed by easing crude oil prices despite massive massive-sell off in the domestic equities. 

How did the rupee perform today? 

The local currency opened at 74.92 against the greenback. It rose to an intra-day high of Rs 74.76 against the dollar and fell to an intra-day low of 74.94 during trade today. Eventually, it ended the day at 74.94 against the dollar on Thursday. It had gained 7 paise to close at 75.03 against the dollar on Wednesday.

Brent crude futures fell 1.28 per cent to $83.50/barrel.

The dollar index advanced 0.10 per cent to 93.89. The index gauges the greenback's strength against a basket of six currencies.

Analysts informed news agency PTI that the rupee gained on the optimism over potentially better inflows arising from high profile IPOs and lower crude oil prices. Rupee could see further appreciation if crude oil prices continue on a lower trajectory over the next two weeks and are back by FPI flows. 

BSE Sensex dropped a massive 1.89 per cent or 1,158.63 points to close the day at 59,984.70. NSE Nifty fell 353.70 points or 1.94 per cent to close at 17,857.25

(With inputs from PTI)

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