Rupee Vs Dollar Today: The rupee settled at 73.34 in opposition to the greenback
Paring its early losses, the rupee closed virtually flat, up by one paise in opposition to the US greenback on Tuesday, May 11, to 73.34 amid a subdued development in home fairness markets. At the interbank international change market, the home unit opened decrease at 73.47 in opposition to the greenback and additional declines to the day’s low of 73.53. The native unit later reduce losses and closed at 73.34, witnessing an increase of 1 paisa over its earlier shut of 73.35 in opposition to the American forex.
Meanwhile, the greenback index, which gauges the buck’s power in opposition to a basket of six currencies, declined 0.07 per cent to 90.14. According to foreign exchange merchants, issues over the rising COVID-19 circumstances weighed on investor sentiment.
”USDINR has appreciated to 73.50 because the virus is inflicting some pressure bringing equities down as additionally the rupee. However, flows within the pair ought to proceed and each uptick ought to result in some good promoting. RBI was the solely purchaser of the pair yesterday and didn’t enable an appreciation past 73.30 of the rupee. Importers to purchase round 73.30 and exporters to promote round 73.60 for close to time period,” mentioned Mr. Anil Kumar Bhansali, Head of Treasury, Finrex.
On the home fairness market entrance, the BSE Sensex closed 340.60 factors or 0.69 per cent decrease at 49,161.81, whereas the broader NSE Nifty slipped 91.60 factors or 0.61 per cent to 14,850.75.
