Advertisement
Monday, Oct 18, 2021
Outlook.com
Outlook.com

Rupee Surges 18 Paise To 74.10 Against US Dollar In Early Trade

At the interbank foreign exchange, the domestic unit opened at 74.16 against the dollar, then inched higher to 74.10, registering a gain of 18 paise over its previous close.

Rupee Surges 18 Paise To 74.10 Against US Dollar In Early Trade
Investors will also look to cues from the Reserve Bank of India's monetary policy meeting this week. | File Photo
Rupee Surges 18 Paise To 74.10 Against US Dollar In Early Trade
outlookindia.com
2021-08-04T10:44:24+05:30

The Indian rupee gained 18 paise and touched 74.10 against the US dollar in early trade on Wednesday, supported by a firm trend in domestic equities and weak American currency.

At the interbank foreign exchange, the domestic unit opened at 74.16 against the dollar, then inched higher to 74.10, registering a gain of 18 paise over its previous close.

On Tuesday, the rupee had settled at 74.28 against the US dollar.

Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading 0.06 per cent down at 92.02.

Regional currencies have started marginally mixed against the dollar early Wednesday morning, Reliance Securities said in a research note.

The local unit could be supported by to the FPI inflows into the equity markets, easing crude oil prices, the note added.

Investors will also look to cues from the Reserve Bank of India's monetary policy meeting this week.

On the domestic equity market front, BSE Sensex was trading 483.15 points or 0.90 per cent higher at 54,306.51, while the broader NSE Nifty advanced 127.05 points or 0.79 per cent to 16,257.80.

Meanwhile, foreign institutional investors were net buyers in the capital market on Tuesday as they purchased shares worth Rs 2,116.60 crore, as per exchange data.

Global oil benchmark Brent crude futures advanced 0.11 per cent to USD 72.49 per barrel.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Kashmir Civilian Killings: Panicky Migrant Workers Start Leaving Valley

Kashmir Civilian Killings: Panicky Migrant Workers Start Leaving Valley

Some workers shifted to safer localities after militants kill two more labourers from Bihar.

‘Rail Roko’ Hits Railway Operations in Punjab And Haryana

‘Rail Roko’ Hits Railway Operations in Punjab And Haryana

Protest called by SKM demanding removal of Union MoS (home) Ajay Mishra goes on peacefully, commuters affected.

IND vs ENG, T20 World Cup 2021, Live: India Make Rocking Start

IND vs ENG, T20 World Cup 2021, Live: India Make Rocking Start

Follow live cricket scores of India vs England T20 World Cup warm-up match in Dubai. Several English players played in the recently concluded IPL in UAE.

Former US Secretary Of State Colin Powell Dies Due To Covid-19 Complications

Former US Secretary Of State Colin Powell Dies Due To Covid-19 Complications

Colin Powell, who served Democratic and Republican presidents in war and peace, succumbed to Covid-19 complications at the age of 84, his family said.

Advertisement