On Wednesday domestic currency erased its initial gains and ended lower by 8 paise at 75.72 against the US dollar.
Indian rupee has recovered from the day's low and trading at day's high level at 75.64, amid volatile trade seen in the domestic equity market.
It opened marginally lower at 75.75 per dollar against previous close of 75.72.
On Wednesday domestic currency erased its initial gains and ended lower by 8 paise at 75.72 against the US dollar.
At 11:21 IST, the Sensex was up 66.72 points or 0.19% at 34935.70, and the Nifty was up 22.70 points or 0.22% at 10328.
The dollar held firm on Thursday as an increase in coronavirus cases in the United States undermined hopes for a quick turnaround in the pandemic-hit economy and prompted traders to cuts bets on riskier currencies.
The rupee found support near 75.50 and saw some up move amid weakness in equity markets. We believe that immediate support for the rupee is placed around 75.40 and rupee should be bought on declines, said ICICIdirect.
The dollar-rupee contract on the NSE was at 75.65 in the last session. The open interest declined almost 6% in the June series but increased 1.5% in the July series ahead of the settlement, it added
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First Published on Jun 25, 2020 10:00 am
