On Wednesday domestic currency erased its initial gains and ended lower by 8 paise at 75.72 against the US dollar.
Indian rupee opened marginally lower at 75.75 per dollar on Thursday against previous close of 75.72, amid volatile trade seen in the domestic equity market.
On Wednesday domestic currency erased its initial gains and ended lower by 8 paise at 75.72 against the US dollar.
At 10:05 IST, the Sensex was down 152.30 points or 0.44% at 34716.68, and the Nifty was down 40.30 points or 0.39% at 10265.
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
Moneycontrol Ready Reckoner
Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.
WEBINAR: Tune in to find out how term insurance can provide risk protection during tough times. Register Now!
First Published on Jun 25, 2020 10:00 am
