Rupee Vs Dollar: The rupee weakened to as low as 74.67 against the dollar during the session
Rupee Vs Dollar Today: The rupee depreciated by 25 paise - or 0.33 per cent - against the US dollar to end at 74.93 on Tuesday, tracking weakness in Asian currencies. After starting the day nearly unchanged at 74.70 against the US currency, the rupee moved between 74.67 and 74.97 during the four-hour session, compared to its previous close of 74.68. Strength in the dollar overseas put pressure on the rupee however mild gains in domestic share markets contained the fall, according to analysts.
At the current level, the rupee has recovered 2.57 per cent from an all-time low of 76.91 registered in April, but still it is down 5 per cent against the greenback so far this year.
Domestic stock markets moved half a per cent higher amid gains in IT and financial sectors, extending gains to a fifth session in a row. The Nifty closed 0.33 per cent higher at 10,799.65, whereas the Sensex climbed up 0.51 per cent to 36,674.52 - both four-month peaks.
The dollar index - which measures the dollar against six currencies - was last seen trading 0.19 per cent higher, having risen as much as 0.44 per cent earlier.
Most Asian currencies traded weaker against the dollar, with the Japanese yen and the Chinese yuan last seen down 0.31 per cent adn 0.04 respectively.
Crude oil prices fell amid concerns that a surge in new coronavirus cases, especially in the US, will hamper any recovery in fuel demand. Brent crude futures - the global benchmark for crude oil - were last down 0.56 per cent at $42.86 per barrel.
Currency markets currently operate within reduced trading hours due to the coronavirus-induced lockdown. The temporary timings are from 10 am to 2 pm, instead of the normal timings of 9 am to 5 pm.
